Investors buy large volume of call options on Bicycle Therapeutics (NASDAQ: BCYC)
Bicycle Therapeutics plc (NASDAQ: BCYC) was the target of unusual options trading activity on Friday. Stock traders acquired 2,103 call options on the company. This is an increase of approximately 3,868% over the typical volume of 53 call options.
NASDAQ BCYC shares traded up $ 1.35 at midday on Friday, reaching $ 42.94. 7,376 shares of the company were traded, for an average volume of 150,548. The company has a market capitalization of $ 1.10 billion, a price / earnings ratio of -14.85 and a beta of -0.34 . Bicycle Therapeutics has a 52 week low of $ 17.68 and a 52 week high of $ 45.21. The company has a debt to equity ratio of 0.21, a current ratio of 9.36 and a rapid ratio of 9.36. The company has a 50-day moving average price of $ 35.70 and a two-hundred-day moving average price of $ 32.10.
Bicycle Therapeutics (NASDAQ: BCYC) last reported its quarterly results on Thursday, August 5. The company reported ($ 0.74) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($ 0.71) from ($ 0.03). Bicycle Therapeutics recorded a negative net margin of 546.62% and a negative return on equity of 50.43%. The company posted revenue of $ 1.79 million in the quarter, compared to a consensus estimate of $ 2.51 million. As a group, sell-side analysts expect Bicycle Therapeutics to post -2.76 EPS for the current fiscal year.
In addition, CEO Kevin Lee sold 1,808 shares of the company in a transaction that took place on Friday, August 27. The shares were sold at an average price of $ 36.02, for a total trade of $ 65,124.16. Following the completion of the sale, the CEO now owns 246,893 shares of the company, valued at approximately $ 8,893,085.86. The sale was disclosed in a legal file with the SEC, accessible through this link. Additionally, insider Nigel Crockett sold 72,701 shares of the company in a trade that took place on Tuesday, July 13. The stock was sold at an average price of $ 32.44, for a total trade of $ 2,358,420.44. As a result of the sale, the insider now directly owns 4,331 shares of the company, valued at approximately $ 140,497.64. Disclosure of this sale can be found here. Insiders have sold a total of 136,447 shares of the company valued at $ 4,536,400 in the past three months. Insiders own 17.90% of the shares of the company.
Institutional investors recently changed their positions in the stock. Janus Henderson Group PLC acquired a new position in Bicycle Therapeutics during the 1st quarter for a value of approximately $ 50,654,000. Logos Global Management LP acquired a new position in Bicycle Therapeutics during the 1st quarter for a value of approximately $ 23,896,000. FIL Ltd purchased a new position in Bicycle Therapeutics during the 1st quarter for a value of approximately $ 15,628,000. Point72 Asset Management LP increased its stake in Bicycle Therapeutics by 14.5% during the 2nd quarter. Point72 Asset Management LP now owns 1,805,935 shares of the company valued at $ 54,828,000 after purchasing 228,442 additional shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in Bicycle Therapeutics by 609.7% during the 1st quarter. Verition Fund Management LLC now owns 240,134 shares of the company valued at $ 7,173,000 after purchasing an additional 206,300 shares in the last quarter. Institutional investors and hedge funds hold 48.67% of the company’s shares.
The BCYC has been the subject of several research reports. Piper Sandler raised her price target on Bicycle Therapeutics shares from $ 39.00 to $ 46.00 and gave the company an “overweight” rating in a research report published on Tuesday, July 13. B. Riley began coverage on Bicycle Therapeutics in a research note Thursday. They set a “buy” rating and a price target of $ 56.00 on the stock. Canaccord Genuity raised its price target on Bicycle Therapeutics from $ 30.00 to $ 36.00 and gave the company a “buy” rating in a research note on Tuesday, July 13. Zacks Investment Research reduced Bicycle Therapeutics from a “buy” rating to a “hold” rating in a Friday August 6 research note. Finally, JMP Securities reaffirmed a “buy” note and set a price target of $ 53.00 on Bicycle Therapeutics shares in a research note on Wednesday, August 11. One investment analyst rated the stock with a conservation rating and seven issued a buy rating for the company’s stock. According to MarketBeat, the company currently has an average “Buy” rating and a consensus price target of $ 45.88.
Bicycle Therapeutics Company Profile
Bicycle Therapeutics Plc is a clinical-stage biopharmaceutical company engaged in the development of a new class of drugs, which the company calls bicycles, for diseases underserved by existing therapies. The company uses its new proprietary phage display screening platform to identify bicycles.
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