Stock Traders Purchase Large Volume of Call Options on Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) was the recipient of some unusual options trading activity on Thursday. Investors acquired 2,557 call options on the company. This is an increase of approximately 3,716% compared to the typical daily volume of 67 call options.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in Bicycle Therapeutics by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 140,492 shares of the company’s stock worth $976,000 after purchasing an additional 2,243 shares during the period. Virtus Investment Advisers LLC boosted its position in Bicycle Therapeutics by 32.6% during the second quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company’s stock worth $75,000 after purchasing an additional 2,659 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of Bicycle Therapeutics by 24.5% in the first quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company’s stock valued at $155,000 after acquiring an additional 3,600 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Bicycle Therapeutics by 90.3% in the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock valued at $108,000 after acquiring an additional 6,057 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock valued at $76,000 after acquiring an additional 8,065 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BCYC shares. Morgan Stanley cut their price target 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Saturday, September 27th. Royal Bank Of Canada set a $27.00 price target on shares of Bicycle Therapeutics and gave the company an “outperform” rating in a research note on Monday, August 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $44.00 price target (down previously from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Finally, JMP Securities cut their price target on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.22.

Bicycle Therapeutics Stock Down 1.9%

NASDAQ BCYC opened at $8.37 on Friday. Bicycle Therapeutics has a 12-month low of $6.10 and a 12-month high of $28.67. The company has a market capitalization of $580.10 million, a PE ratio of -2.38 and a beta of 1.47. The firm’s 50 day moving average is $7.44 and its 200-day moving average is $7.83.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Friday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). The business had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. As a group, sell-side analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current year.

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.