Bicycle Therapeutics (NASDAQ:BCYC) Sees Large Volume Increase Following Insider Buying Activity

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) saw unusually-high trading volume on Tuesday following insider buying activity. Approximately 1,538,540 shares were traded 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 company’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the transaction, the director now owns 9,995,274 shares of the company’s stock, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 985,397 shares of Bicycle Therapeutics stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the purchase, the director now owns 9,537,643 shares of the company’s stock, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

BCYC has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Thursday, October 31st. HC Wainwright cut their target price on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a report on Monday. Stephens started coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 price target on the stock. JMP Securities dropped their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.25.

Bicycle Therapeutics Price Performance

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

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same period in the prior year, the company posted ($1.26) EPS. Bicycle Therapeutics’s quarterly revenue was down 50.0% on a year-over-year basis. As a group, sell-side analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Bicycle Therapeutics by 105.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after buying an additional 1,038 shares during the last quarter. L & S Advisors Inc grew its position in Bicycle Therapeutics by 2.4% in the 3rd quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock worth $1,352,000 after purchasing an additional 1,400 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics in the third quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after acquiring an additional 2,918 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after acquiring an additional 4,976 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.