Bicycle Therapeutics (NASDAQ:BCYC) Sees Large Volume Increase – Time to Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) saw strong trading volume on Tuesday . 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.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BCYC. B. Riley lowered their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday. HC Wainwright dropped their target price on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Bicycle Therapeutics Trading Up 0.1 %

The stock’s 50 day moving average price is $22.62 and its two-hundred day moving average price is $22.71. The firm 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 issued 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 net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. During the same period last year, the company posted ($1.26) earnings per share. The firm’s quarterly revenue was down 50.0% compared to the same quarter last year. On average, sell-side analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

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

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BCYC. Geode Capital Management LLC raised its stake in Bicycle Therapeutics by 79.3% in the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock valued at $868,000 after purchasing an additional 16,958 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Bicycle Therapeutics by 35.7% during the third quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after buying an additional 5,310 shares in the last quarter. State Street Corp raised its position in shares of Bicycle Therapeutics by 233.5% in the third quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after buying an additional 60,399 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Bicycle Therapeutics by 1,438.1% during the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after buying an additional 841,299 shares during the period. Finally, HighVista Strategies LLC boosted its position in Bicycle Therapeutics by 9.7% during the third quarter. HighVista Strategies LLC now owns 139,544 shares of the company’s stock worth $3,158,000 after acquiring an additional 12,289 shares during the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.