Bicycle Therapeutics (NASDAQ:BCYC) Sees Unusually-High Trading Volume – What’s Next?

Bicycle Therapeutics plc (NASDAQ:BCYC) shares saw an uptick in trading volume on Tuesday . 1,538,540 shares traded 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BCYC shares. HC Wainwright lowered their price objective on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Two equities research 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 stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Bicycle Therapeutics Stock Performance

The company has a 50 day moving average of $22.62 and a 200 day moving average of $22.71. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.66 and a beta of 0.86.

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

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the transaction, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,840 shares of company stock worth $259,128 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BCYC. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics during the third quarter worth about $34,000. GAMMA Investing LLC boosted its position 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 valued at $46,000 after purchasing an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after buying an additional 2,918 shares during the last quarter. XTX Topco Ltd acquired a new position in Bicycle Therapeutics during the second quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Bicycle Therapeutics in the third quarter valued at approximately $257,000. 86.15% of the stock is owned by hedge funds and other 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.