Bicycle Therapeutics plc (NASDAQ:BCYC) Director Acquires $7,670,000.00 in Stock

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) Director Bros. Advisors Lp Baker purchased 500,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were bought at an average price of $15.34 per share, for a total transaction of $7,670,000.00. Following the completion of the transaction, the director now directly owns 9,995,274 shares in the company, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Friday, December 13th, Bros. Advisors Lp Baker bought 985,397 shares of Bicycle Therapeutics stock. The stock was bought at an average cost of $13.76 per share, for a total transaction of $13,559,062.72.

Bicycle Therapeutics Stock Performance

BCYC traded up $0.02 during trading on Tuesday, reaching $15.14. The company had a trading volume of 2,234,373 shares, compared to its average volume of 403,121. The firm's 50-day simple moving average is $22.62 and its 200 day simple moving average is $22.71. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -4.60 and a beta of 0.86. Bicycle Therapeutics plc has a 12-month low of $12.17 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period in the previous year, the business earned ($1.26) EPS. The company's revenue was down 50.0% on a year-over-year basis. On average, sell-side analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

BCYC has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. B. Riley reduced their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday. Finally, HC Wainwright lowered their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a "buy" rating on the stock in a report on Monday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Bicycle Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC bought a new position in Bicycle Therapeutics during the third quarter valued at approximately $3,406,000. TD Asset Management Inc boosted its holdings in Bicycle Therapeutics by 76.7% in the second 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 increased its position in Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company's stock worth $2,935,000 after buying an additional 32,313 shares during the last quarter. Perceptive Advisors LLC bought a new position in Bicycle Therapeutics during the second quarter valued at about $11,577,000. Finally, Renaissance Technologies LLC lifted its position in shares of 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 owned by hedge funds and other 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.

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