Bicycle Therapeutics (NASDAQ:BCYC) Sees Strong Trading Volume

Bicycle Therapeutics plc (NASDAQ:BCYC) saw strong 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.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BCYC. Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. Canaccord Genuity Group reissued a “buy” rating and set a $60.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. Finally, HC Wainwright cut their price objective on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a report 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.86.

Bicycle Therapeutics Stock Performance

The company has a market capitalization of $682.81 million, a PE ratio of -4.43 and a beta of 0.89. The company has a 50 day moving average of $23.95 and a two-hundred day moving average of $19.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08.

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

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the transaction, the chief executive officer now owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 5,312 shares of company stock valued at $126,139. 10.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Woodstock Corp grew its position in shares of Bicycle Therapeutics by 16.3% during the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after purchasing an additional 3,502 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Bicycle Therapeutics in the 4th quarter worth approximately $137,000. Parkman Healthcare Partners LLC boosted its holdings in shares of Bicycle Therapeutics by 155.0% in the 4th quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock worth $5,657,000 after purchasing an additional 190,168 shares during the period. Comerica Bank boosted its holdings in shares of Bicycle Therapeutics by 18,088.9% in the 4th quarter. Comerica Bank now owns 81,850 shares of the company’s stock worth $1,480,000 after purchasing an additional 81,400 shares during the period. Finally, Platinum Investment Management Ltd. boosted its holdings in shares of Bicycle Therapeutics by 26.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 362,080 shares of the company’s stock worth $6,546,000 after purchasing an additional 76,601 shares during the period. 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.