Bicycle Therapeutics Sees Unusually Large Options Volume (NASDAQ:BCYC)

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) was the target of some unusual options trading activity on Thursday. Stock traders acquired 2,557 call options on the company. This represents an increase of approximately 3,716% compared to the average volume of 67 call options.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ausdal Financial Partners Inc. acquired a new position in Bicycle Therapeutics in the second quarter valued at approximately $70,000. Sei Investments Co. acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at $74,000. Virtus Investment Advisers LLC lifted its stake in shares of Bicycle Therapeutics by 32.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company’s stock valued at $75,000 after purchasing an additional 2,659 shares during the period. GAMMA Investing LLC boosted its position in shares of Bicycle Therapeutics by 879.5% in the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock worth $76,000 after purchasing an additional 8,065 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Bicycle Therapeutics during the second quarter worth $86,000. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock opened at $8.53 on Friday. The business has a 50 day simple moving average of $7.45 and a 200 day simple moving average of $7.83. The company has a market capitalization of $591.21 million, a PE ratio of -2.43 and a beta of 1.47. Bicycle Therapeutics has a one year low of $6.10 and a one year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. The firm had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. Equities analysts anticipate that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BCYC has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 12th. Royal Bank Of Canada set a $27.00 price target on Bicycle Therapeutics and gave the company an “outperform” rating in a research report on Monday, August 11th. Oppenheimer reiterated an “outperform” rating and issued a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Finally, JMP Securities decreased their target price on Bicycle Therapeutics from $22.00 to $10.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.22.

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.