Bicycle Therapeutics plc (NASDAQ:BCYC – Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $22.69, but opened at $23.34. Bicycle Therapeutics shares last traded at $23.65, with a volume of 21,961 shares trading hands.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on BCYC shares. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday. 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. Morgan Stanley cut their price objective on Bicycle Therapeutics from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, November 8th. Finally, JMP Securities cut their price objective on Bicycle Therapeutics from $44.00 to $32.00 and set a “market outperform” rating for the company in a report on Wednesday, December 20th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $47.88.
Bicycle Therapeutics Price Performance
The stock has a fifty day moving average of $18.32 and a 200-day moving average of $18.52. The company has a quick ratio of 8.65, a current ratio of 8.65 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $699.93 million, a P/E ratio of -4.56 and a beta of 0.80.
Insider Activity at Bicycle Therapeutics
In related news, CEO Kevin Lee sold 8,703 shares of Bicycle Therapeutics stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $17.50, for a total value of $152,302.50. Following the completion of the transaction, the chief executive officer now directly owns 390,428 shares of the company’s stock, valued at $6,832,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bicycle Therapeutics news, CEO Kevin Lee sold 8,703 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $17.50, for a total transaction of $152,302.50. Following the completion of the sale, the chief executive officer now directly owns 390,428 shares of the company’s stock, valued at approximately $6,832,490. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel Crockett sold 2,643 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $17.50, for a total value of $46,252.50. Following the sale, the insider now directly owns 48,716 shares of the company’s stock, valued at $852,530. The disclosure for this sale can be found here. Insiders sold 11,950 shares of company stock valued at $209,125 over the last ninety days. 10.20% of the stock is owned by insiders.
Institutional Trading of Bicycle Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Woodstock Corp increased its stake in Bicycle Therapeutics by 4.5% during the 4th quarter. Woodstock Corp now owns 21,479 shares of the company’s stock worth $388,000 after purchasing an additional 926 shares in the last quarter. UBS Group AG increased its stake in Bicycle Therapeutics by 7.3% during the 1st quarter. UBS Group AG now owns 13,892 shares of the company’s stock worth $295,000 after purchasing an additional 950 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Bicycle Therapeutics by 91.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company’s stock worth $62,000 after purchasing an additional 1,157 shares in the last quarter. Osaic Holdings Inc. increased its stake in Bicycle Therapeutics by 118.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,320 shares of the company’s stock worth $59,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Bicycle Therapeutics by 15.3% during the 4th quarter. Legal & General Group Plc now owns 10,533 shares of the company’s stock worth $312,000 after purchasing an additional 1,400 shares in the last quarter. 86.15% of the stock is 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. It is developing BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease; BT5528, a BTC that is in a Phase I/II clinical trial targeting Ephrin type-A receptor 2; and BT8009, which is in Phase I/II clinical trial targeting Nectin-4.