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

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,270,000 shares, an increase of 12.0% from the October 15th total of 2,920,000 shares. Based on an average trading volume of 403,700 shares, the short-interest ratio is currently 8.1 days.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BCYC shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Stephens began coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a 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, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $40.13.

Bicycle Therapeutics Trading Down 1.7 %

Shares of NASDAQ BCYC traded down $0.38 during mid-day trading on Monday, reaching $21.41. The company had a trading volume of 61,737 shares, compared to its average volume of 354,313. The firm has a 50 day simple moving average of $24.62 and a two-hundred day simple moving average of $23.15. Bicycle Therapeutics has a 52-week low of $13.07 and a 52-week high of $28.67. The stock has a market cap of $1.02 billion, a P/E ratio of -6.62 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same quarter last year, the company posted ($1.26) earnings per share. The business’s quarterly revenue was down 50.0% compared to the same quarter last year. On average, equities analysts expect that Bicycle Therapeutics will post -3.01 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the sale, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,840 shares of company stock valued at $259,128. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics in the third quarter valued at approximately $34,000. GAMMA Investing LLC raised its position in Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after purchasing an additional 2,918 shares during the period. XTX Topco Ltd purchased a new position in Bicycle Therapeutics during the 2nd quarter worth $206,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Bicycle Therapeutics in the third quarter valued at $257,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.