Bicycle Therapeutics (NASDAQ:BCYC) Sees Strong Trading Volume

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) saw an uptick in trading volume on Wednesday . 431,556 shares were traded during trading, an increase of 13% from the previous session’s volume of 380,587 shares.The stock last traded at $22.52 and had previously closed at $22.68.

Wall Street Analysts Forecast Growth

BCYC has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. Canaccord Genuity Group restated a “buy” rating and set a $60.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. Finally, HC Wainwright reduced their price objective on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.86.

Bicycle Therapeutics Stock Performance

The stock has a market capitalization of $681.01 million, a price-to-earnings ratio of -4.42 and a beta of 0.89. The company has a 50 day simple moving average of $23.93 and a 200-day simple moving average of $19.30. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.23) by $0.07. Bicycle Therapeutics had a negative net margin of 669.72% and a negative return on equity of 57.80%. The business had revenue of $5.33 million for the quarter, compared to analyst estimates of $11.68 million. As a group, equities research analysts expect that Bicycle Therapeutics plc will post -5.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kevin Lee sold 3,158 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the transaction, the chief executive officer now directly owns 387,270 shares of the company’s stock, valued at approximately $9,220,898.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 5,312 shares of company stock worth $126,139 in the last three months. Company insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BCYC. BluePath Capital Management LLC purchased a new stake in shares of Bicycle Therapeutics in the third quarter worth approximately $31,000. China Universal Asset Management Co. Ltd. raised its position in Bicycle Therapeutics by 489.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company’s stock valued at $72,000 after buying an additional 3,322 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Bicycle Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock valued at $122,000 after acquiring an additional 1,706 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Bicycle Therapeutics during the 4th quarter worth $137,000. Finally, Woodstock Corp grew its stake in shares of Bicycle Therapeutics by 4.5% in the 4th quarter. Woodstock Corp now owns 21,479 shares of the company’s stock worth $388,000 after acquiring an additional 926 shares in the last quarter. Institutional investors and hedge funds 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.