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

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) 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 changing hands.

Specifically, Director Bros. Advisors Lp Baker purchased 500,000 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $15.34 per share, for a total transaction of $7,670,000.00. Following the transaction, the director now directly owns 9,995,274 shares in the company, valued at $153,327,503.16. This represents a 5.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker acquired 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 completion of the acquisition, the director now directly owns 9,537,643 shares of the company’s stock, valued at $131,237,967.68. This trade represents a 11.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. B. Riley dropped 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. HC Wainwright reduced their target price on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday. Stephens assumed coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Finally, JMP Securities cut 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Bicycle Therapeutics Price Performance

The stock has a 50-day moving average price of $22.45 and a 200 day moving average price of $22.66. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -4.65 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The firm had revenue of $2.68 million for 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 business’s quarterly revenue was down 50.0% on a year-over-year basis. During the same period last year, the company posted ($1.26) EPS. Sell-side analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors have recently added to or reduced their stakes in BCYC. Assetmark Inc. bought a new position in Bicycle Therapeutics during the 3rd quarter worth about $34,000. GAMMA Investing LLC grew its holdings in shares of Bicycle Therapeutics by 105.1% during 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 in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Bicycle Therapeutics by 69.1% in the 3rd 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 during the last quarter. XTX Topco Ltd bought a new stake in Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Bicycle Therapeutics in the 3rd quarter valued at approximately $257,000. 86.15% of the stock is owned by institutional investors.

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.