Bicycle Therapeutics (NASDAQ:BCYC) Sees Strong Trading Volume on Insider Buying Activity

Bicycle Therapeutics plc (NASDAQ:BCYC) shares saw strong trading volume on Tuesday following insider buying activity. Approximately 1,538,540 shares changed hands during trading, an increase of 286% from the previous session’s volume of 399,080 shares.The stock last traded at $15.64 and had previously closed at $15.12.

Specifically, Director Bros. Advisors Lp Baker bought 500,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the transaction, the director now directly owns 9,995,274 shares in the company, valued at approximately $153,327,503.16. This represents a 5.27 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 985,397 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the acquisition, the director now owns 9,537,643 shares of the company’s stock, valued at $131,237,967.68. This trade represents a 11.52 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BCYC shares. HC Wainwright decreased their target price on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. JMP Securities cut their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $35.25.

Bicycle Therapeutics Stock Down 2.0 %

The business has a 50-day moving average price of $22.27 and a 200-day moving average price of $22.61. The firm has a market capitalization of $1.04 billion, a P/E ratio of -4.56 and a beta of 0.86.

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

Institutional Trading of Bicycle Therapeutics

Several hedge funds have recently modified their holdings of BCYC. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at about $34,000. GAMMA Investing LLC boosted its stake in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in 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 acquiring an additional 2,918 shares during the period. XTX Topco Ltd bought a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at $206,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Bicycle Therapeutics during the third quarter worth $257,000. 86.15% of the stock is owned by institutional investors.

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.