Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up on Insider Buying Activity

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $15.14, but opened at $16.47. Bicycle Therapeutics shares last traded at $16.17, with a volume of 167,557 shares trading hands.

Specifically, Director Bros. Advisors Lp Baker acquired 500,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $15.34 per share, for a total transaction of $7,670,000.00. Following the completion of the transaction, the director now owns 9,995,274 shares of the company’s stock, valued at approximately $153,327,503.16. The trade was a 5.27 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bros. Advisors Lp Baker acquired 985,397 shares of Bicycle Therapeutics stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the completion of the acquisition, the director now owns 9,537,643 shares in the company, valued at $131,237,967.68. This trade represents a 11.52 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stephens initiated coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. JMP Securities reduced their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Bicycle Therapeutics Trading Up 6.8 %

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.11 and a beta of 0.86. The firm’s 50 day simple moving average is $22.62 and its 200-day simple moving average is $22.71.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. The firm had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.26) earnings per share. As a group, sell-side analysts forecast that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics in the third quarter worth approximately $34,000. GAMMA Investing LLC boosted its position in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after buying an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at about $206,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Bicycle Therapeutics during the 3rd quarter worth approximately $257,000. Hedge funds and other 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.