Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 8.7% – Here’s Why

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) traded up 8.7% during trading on Monday . The company traded as high as $15.04 and last traded at $15.01. 447,212 shares changed hands during trading, an increase of 16% from the average session volume of 387,183 shares. The stock had previously closed at $13.81.

Analyst Upgrades and Downgrades

BCYC has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Stephens initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Finally, JMP Securities cut their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday. Two 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, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $35.25.

Bicycle Therapeutics Stock Performance

The firm has a 50 day moving average price of $22.45 and a two-hundred day moving average price of $22.66. The company has a market capitalization of $1.06 billion, a P/E ratio of -4.65 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. The firm had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.26) earnings per share. On average, equities analysts expect that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the 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 sale, the chief accounting officer now directly owns 19,241 shares in the company, valued at $483,141.51. This represents a 24.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics 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 completion of the transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. The trade was a 0.84 % 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 quarter. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

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

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.