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

Key Points

• Unusually high trading activity was noted for Bicycle Therapeutics, with traders purchasing 2,557 call options, representing a 3,716% increase from the average volume.
• Equities analysts have set targets for Bicycle Therapeutics ranging from $10.00 to $44.00, with a consensus rating of "Moderate Buy" and a target price of $22.22.
• The company reported a loss of ($1.14) earnings per share for the last quarter, missing estimates and highlighting negative performance metrics, including a 1,257% negative net margin.

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) was the target of unusually large options trading activity on Thursday. Stock traders purchased 2,557 call options on the company. This represents an increase of 3,716% compared to the average daily volume of 67 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank Of Canada set a $27.00 price objective on Bicycle Therapeutics and gave the stock an "outperform" rating in a research note on Monday, August 11th. Oppenheimer restated an "outperform" rating and set a $44.00 target price (down previously from $48.00) on shares of Bicycle Therapeutics in a research report on Monday, August 11th. Morgan Stanley lowered their target price on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, August 12th. Finally, JMP Securities cut their price target on Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating on the stock in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.22.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC grew its stake in Bicycle Therapeutics by 4.8% in the 2nd quarter. Armistice Capital LLC now owns 2,800,000 shares of the company's stock worth $19,460,000 after buying an additional 128,000 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Bicycle Therapeutics by 4.6% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,780,491 shares of the company's stock valued at $19,324,000 after purchasing an additional 123,186 shares in the last quarter. Long Focus Capital Management LLC boosted its stake in shares of Bicycle Therapeutics by 138.2% in the 1st quarter. Long Focus Capital Management LLC now owns 1,293,753 shares of the company's stock valued at $10,984,000 after purchasing an additional 750,661 shares in the last quarter. Candriam S.C.A. boosted its stake in shares of Bicycle Therapeutics by 10.8% in the 1st quarter. Candriam S.C.A. now owns 1,205,207 shares of the company's stock valued at $10,232,000 after purchasing an additional 117,331 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. boosted its stake in shares of Bicycle Therapeutics by 72.4% in the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 993,743 shares of the company's stock valued at $6,907,000 after purchasing an additional 417,400 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company's stock.

Bicycle Therapeutics Stock Performance

BCYC traded down $0.06 during mid-day trading on Thursday, reaching $8.27. 167,984 shares of the stock were exchanged, compared to its average volume of 312,257. Bicycle Therapeutics has a 1 year low of $6.10 and a 1 year high of $28.67. The stock has a market capitalization of $573.19 million, a PE ratio of -2.36 and a beta of 1.47. The company has a 50 day moving average price of $7.45 and a two-hundred day moving average price of $7.84.

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

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