Bicycle Therapeutics plc (NASDAQ:BCYC) Sees Large Increase in Short Interest

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,360,000 shares, a growth of 12.4% from the August 31st total of 2,100,000 shares. Based on an average daily trading volume, of 291,100 shares, the days-to-cover ratio is presently 8.1 days.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $22.63 on Tuesday. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $23.49 and its 200 day moving average price is $22.95. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.20. The stock has a market cap of $968.09 million, a price-to-earnings ratio of -5.09 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, research analysts forecast that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the sale, the chief executive officer now owns 384,076 shares in the company, valued at approximately $7,543,252.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 4,555 shares of company stock valued at $89,460. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of large investors have recently bought and sold shares of BCYC. PNC Financial Services Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at $137,000. China Universal Asset Management Co. Ltd. lifted its holdings in Bicycle Therapeutics by 71.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after purchasing an additional 2,858 shares in the last quarter. XTX Topco Ltd purchased a new position in Bicycle Therapeutics in the 2nd quarter valued at about $206,000. PDS Planning Inc acquired a new stake in shares of Bicycle Therapeutics during the 1st quarter worth about $210,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the second quarter worth about $261,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

Wall Street Analyst Weigh In

BCYC has been the subject of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Company Profile

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.