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

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,650,000 shares, a growth of 12.3% from the September 15th total of 2,360,000 shares. Based on an average daily volume of 327,600 shares, the short-interest ratio is presently 8.1 days.

Bicycle Therapeutics Stock Down 1.8 %

Shares of BCYC traded down $0.50 during trading hours on Thursday, hitting $27.01. 4,389 shares of the company were exchanged, compared to its average volume of 346,394. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The company has a market cap of $1.16 billion, a PE ratio of -6.18 and a beta of 0.89. The firm’s 50 day moving average is $23.61 and its 200-day moving average is $22.93. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced 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 return on equity of 32.80% and a negative net margin of 417.88%. The company had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities research analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 4,584 shares of company stock valued at $102,040 over the last three months. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Bicycle Therapeutics by 71.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after buying an additional 2,858 shares during the last quarter. Woodstock Corp grew its stake in shares of Bicycle Therapeutics by 16.3% in the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after acquiring an additional 3,502 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Bicycle Therapeutics by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after acquiring an additional 4,976 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Bicycle Therapeutics by 2.4% during the third quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock valued at $4,949,000 after buying an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BCYC. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Oppenheimer restated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $44.56.

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.