Bicycle Therapeutics (NASDAQ:BCYC) Sees Strong Trading Volume – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC) saw strong trading volume on Friday . 500,285 shares were traded 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BCYC shares. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. JMP Securities cut their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. B. Riley lowered their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.25.

Bicycle Therapeutics Stock Up 2.9 %

The stock has a market capitalization of $907.66 million, a PE ratio of -3.99 and a beta of 0.92. The stock has a fifty day moving average of $15.97 and a 200-day moving average of $20.99.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. The business’s revenue was down 50.0% on a year-over-year basis. During the same quarter last year, the company posted ($1.26) earnings per share. Equities research analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, Director Bros. Advisors Lp Baker acquired 985,397 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now directly owns 32,146 shares of the company’s stock, valued at $482,190. This represents a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,933 shares of company stock valued at $549,501. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. acquired a new position in Bicycle Therapeutics during the 3rd quarter valued at approximately $34,000. GAMMA Investing LLC lifted its stake 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 worth $46,000 after acquiring an additional 1,038 shares during the period. Avior Wealth Management LLC bought a new position in Bicycle Therapeutics during the 4th quarter valued at $57,000. China Universal Asset Management Co. Ltd. grew its holdings in Bicycle Therapeutics by 69.1% during the third 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. Finally, JPMorgan Chase & Co. grew its stake in shares of Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.