Bicycle Therapeutics (NASDAQ:BCYC) Sees Unusually-High Trading Volume After 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 changed hands during mid-day 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 purchased 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 directly owns 9,995,274 shares of the company’s stock, valued at approximately $153,327,503.16. This represents a 5.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 985,397 shares of Bicycle Therapeutics stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the acquisition, the director now owns 9,537,643 shares of the company’s stock, valued at approximately $131,237,967.68. This trade represents a 11.52 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

BCYC has been the topic of several recent research reports. HC Wainwright cut their price objective on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday. JMP Securities cut their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective 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 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Finally, Stephens assumed coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Bicycle Therapeutics Stock Down 2.0 %

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

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter last year, the business posted ($1.26) earnings per share. The company’s quarterly revenue was down 50.0% on a year-over-year basis. On average, analysts forecast that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in 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 purchasing an additional 1,038 shares in the last quarter. L & S Advisors Inc increased its position in shares of Bicycle Therapeutics by 2.4% in the third quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock worth $1,352,000 after acquiring an additional 1,400 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics during the third quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Bicycle Therapeutics by 0.6% in 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 purchasing an additional 4,976 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.