Bicycle Therapeutics (NASDAQ:BCYC) Sees Strong Trading Volume

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) saw unusually-high trading volume on Monday . Approximately 315,799 shares changed hands during trading, a decline of 5% from the previous session’s volume of 332,084 shares.The stock last traded at $24.60 and had previously closed at $27.02.

Analysts Set New Price Targets

Several research analysts have weighed in on BCYC shares. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Monday. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research note on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Price Performance

The firm has a market cap of $1.18 billion, a PE ratio of -5.64 and a beta of 0.90. The firm has a fifty day simple moving average of $23.06 and a two-hundred day simple moving average of $23.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. Equities analysts predict that Bicycle Therapeutics plc will post -3.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kevin Lee sold 3,194 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the sale, the chief executive officer now owns 384,076 shares in the company, valued at approximately $7,543,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Bicycle Therapeutics by 71.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after buying an additional 2,858 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in Bicycle Therapeutics in the fourth quarter worth $137,000. PDS Planning Inc bought a new stake in shares of Bicycle Therapeutics during the first quarter worth $210,000. XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics during the second quarter valued at $206,000. Finally, Natixis Advisors LLC bought a new position in shares of Bicycle Therapeutics in the second quarter worth about $261,000. Institutional investors 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.