Short Interest in Bicycle Therapeutics plc (NASDAQ:BCYC) Expands By 14.9%

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,940,000 shares, an increase of 14.9% from the December 15th total of 3,430,000 shares. Based on an average trading volume of 591,800 shares, the days-to-cover ratio is currently 6.7 days.

Bicycle Therapeutics Price Performance

NASDAQ BCYC traded down $0.25 during trading on Friday, hitting $13.34. The company’s stock had a trading volume of 203,978 shares, compared to its average volume of 814,647. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The company has a market cap of $921.13 million, a PE ratio of -4.05 and a beta of 0.92. The business’s 50 day simple moving average is $17.54 and its 200-day simple moving average is $21.47.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the previous year, the business earned ($1.26) EPS. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. Analysts expect that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JMP Securities lowered their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. B. Riley decreased their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Finally, Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker acquired 985,397 shares of Bicycle Therapeutics stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the purchase, the director now directly owns 9,537,643 shares of the company’s stock, valued at $131,237,967.68. The trade was a 11.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kevin Lee sold 9,038 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $127,345.42. Following the completion of the transaction, the chief executive officer now owns 495,026 shares of the company’s stock, valued at approximately $6,974,916.34. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,933 shares of company stock worth $549,501. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its stake in Bicycle Therapeutics by 1,438.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after purchasing an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC acquired a new position in Bicycle Therapeutics during the second quarter worth $14,168,000. Perceptive Advisors LLC purchased a new stake in Bicycle Therapeutics in the 2nd quarter valued at $11,577,000. Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter worth $10,028,000. Finally, Westfield Capital Management Co. LP boosted its position in shares of Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after acquiring an additional 327,089 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.