Bicycle Therapeutics (NASDAQ:BCYC) Sees Unusually-High Trading Volume on Insider Buying Activity

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) saw strong trading volume on Tuesday after an insider bought additional shares in the company. 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 business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the purchase, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker acquired 985,397 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $13.76 per share, for a total transaction of $13,559,062.72. Following the acquisition, the director now directly 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 ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

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

Bicycle Therapeutics Trading Down 2.0 %

The stock’s 50-day moving average is $22.27 and its 200-day moving average is $22.61. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -4.56 and a beta of 0.86.

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

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics during the third quarter worth about $34,000. GAMMA Investing LLC raised its stake in Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted 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 buying an additional 2,918 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $257,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Company Profile

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.