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

Bicycle Therapeutics plc (NASDAQ:BCYC) gapped up before the market opened on Wednesday after an insider bought additional shares in the company. 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 changing hands.

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

Analyst Ratings Changes

A number of brokerages have issued reports on BCYC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. HC Wainwright reduced their price objective on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday. Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. JMP Securities reduced their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Finally, B. Riley lowered their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.25.

Bicycle Therapeutics Trading Up 6.8 %

The stock has a market capitalization of $1.12 billion, a P/E ratio of -5.11 and a beta of 0.86. The company’s 50-day moving average is $22.62 and its two-hundred day moving average is $22.71.

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

Institutional Trading of Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC purchased a new position in shares of Bicycle Therapeutics during the third quarter valued at $3,406,000. TD Asset Management Inc raised its stake in shares of Bicycle Therapeutics by 76.7% during the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after purchasing an additional 42,200 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Bicycle Therapeutics by 33.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock valued at $2,935,000 after buying an additional 32,313 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $11,577,000. Finally, Renaissance Technologies LLC increased its holdings in Bicycle Therapeutics by 97.2% in the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after buying an additional 161,100 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors.

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.