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

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,780,000 shares, an increase of 6.1% from the May 31st total of 2,620,000 shares. Based on an average daily volume of 364,600 shares, the days-to-cover ratio is currently 7.6 days.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP increased its stake in shares of Bicycle Therapeutics by 176.1% in the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock worth $123,076,000 after buying an additional 3,152,433 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Bicycle Therapeutics in the fourth quarter valued at about $16,585,000. RA Capital Management L.P. acquired a new stake in Bicycle Therapeutics during the third quarter valued at approximately $16,072,000. Armistice Capital LLC raised its stake in Bicycle Therapeutics by 53.6% during the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after buying an additional 536,000 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in Bicycle Therapeutics by 33.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock worth $20,321,000 after buying an additional 252,000 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Stock Down 1.2 %

NASDAQ BCYC traded down $0.23 during trading hours on Wednesday, hitting $19.58. The company had a trading volume of 64,364 shares, compared to its average volume of 353,942. The firm’s 50 day moving average is $22.36 and its 200 day moving average is $21.62. The company has a quick ratio of 10.42, a current ratio of 10.42 and a debt-to-equity ratio of 0.09. Bicycle Therapeutics has a fifty-two week low of $12.54 and a fifty-two week high of $27.50.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.63. The company had revenue of $19.53 million during the quarter, compared to the consensus estimate of $6.06 million. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 49.35%. The business’s revenue for the quarter was up 298.9% compared to the same quarter last year. On average, research analysts anticipate that Bicycle Therapeutics will post -4.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BCYC has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.86.

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.