Bicycle Therapeutics (NASDAQ:BCYC) Sees Unusually-High Trading Volume

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) saw an uptick in trading volume on Wednesday . 431,556 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 380,587 shares.The stock last traded at $22.52 and had previously closed at $22.68.

Analyst Ratings Changes

A number of equities analysts have weighed in on BCYC shares. Canaccord Genuity Group reissued a “buy” rating and issued a $60.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. HC Wainwright decreased their target price on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.86.

Bicycle Therapeutics Stock Down 0.0 %

The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $23.93 and a 200-day simple moving average of $19.30. The firm has a market cap of $681.01 million, a P/E ratio of -4.42 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share for the quarter, topping the consensus estimate of ($1.23) by $0.07. Bicycle Therapeutics had a negative net margin of 669.72% and a negative return on equity of 57.80%. The company had revenue of $5.33 million during the quarter, compared to the consensus estimate of $11.68 million. On average, equities analysts anticipate that Bicycle Therapeutics plc will post -5.2 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,158 shares of Bicycle Therapeutics stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total transaction of $75,191.98. Following the sale, the chief executive officer now owns 387,270 shares in the company, valued at $9,220,898.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders have sold 5,312 shares of company stock valued at $126,139. 10.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BluePath Capital Management LLC purchased a new position in Bicycle Therapeutics in the third quarter worth about $31,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Bicycle Therapeutics by 489.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company’s stock valued at $72,000 after purchasing an additional 3,322 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Bicycle Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock worth $122,000 after purchasing an additional 1,706 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Bicycle Therapeutics during the 4th quarter valued at approximately $137,000. Finally, Woodstock Corp raised its holdings in Bicycle Therapeutics by 4.5% during the 4th quarter. Woodstock Corp now owns 21,479 shares of the company’s stock valued at $388,000 after buying an additional 926 shares during the period. 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.