Bicycle Therapeutics (NASDAQ:BCYC) Sees Large Volume Increase – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC) shares saw unusually-strong trading volume on Friday . Approximately 500,285 shares traded hands during mid-day trading, an increase of 57% from the previous session’s volume of 318,117 shares.The stock last traded at $13.34 and had previously closed at $12.77.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BCYC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday, January 13th. B. Riley reduced their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. JMP Securities reduced their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Bicycle Therapeutics Trading Up 2.9 %

The firm has a fifty day simple moving average of $15.97 and a two-hundred day simple moving average of $20.99. The stock has a market cap of $907.66 million, a PE ratio of -3.99 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter last year, the business posted ($1.26) EPS. The business’s revenue was down 50.0% on a year-over-year basis. Equities analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the sale, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker bought 500,000 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the purchase, the director now directly owns 9,995,274 shares in the company, valued at $153,327,503.16. The trade was a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 33,933 shares of company stock valued at $549,501. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCYC. Assetmark Inc. purchased a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at $34,000. GAMMA Investing LLC increased its holdings in shares of Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in Bicycle Therapeutics in the fourth quarter valued at $57,000. China Universal Asset Management Co. Ltd. raised its position in shares of Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after purchasing an additional 2,918 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after purchasing an additional 1,782 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Bicycle Therapeutics

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.