Bicycle Therapeutics (NASDAQ:BCYC) Sees Large Volume Increase

Bicycle Therapeutics plc (NASDAQ:BCYC) saw an uptick in trading volume on Monday . 315,799 shares were traded 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.

Analyst Ratings Changes

BCYC has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a report on Monday. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada began coverage on shares of Bicycle Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Stock Down 8.0 %

The company’s fifty day simple moving average is $23.06 and its 200-day simple moving average is $23.00. The firm has a market capitalization of $1.18 billion, a PE ratio of -5.64 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its 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 return on equity of 32.80% and a negative net margin of 417.88%. The firm had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts forecast that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the transaction, the chief executive officer now owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 4,555 shares of company stock worth $89,460 over the last 90 days. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Bicycle Therapeutics by 10,489.4% in the fourth quarter. BNP Paribas Financial Markets now owns 36,851 shares of the company’s stock valued at $666,000 after purchasing an additional 36,503 shares during the period. Trexquant Investment LP raised its position in Bicycle Therapeutics by 177.6% during the 4th quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock worth $3,550,000 after buying an additional 125,604 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Bicycle Therapeutics in the 4th quarter valued at $16,585,000. Armistice Capital LLC boosted its holdings in shares of Bicycle Therapeutics by 53.6% in the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after acquiring an additional 536,000 shares during the last quarter. Finally, Platinum Investment Management Ltd. increased its stake in shares of Bicycle Therapeutics by 26.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 362,080 shares of the company’s stock worth $6,546,000 after acquiring an additional 76,601 shares during the period. Hedge funds and other 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.