Short Interest in Bicycle Therapeutics plc (NASDAQ:BCYC) Expands By 12.3%

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,650,000 shares, an increase 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.

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 3,212 shares of the business’s 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 owns 380,864 shares of the company’s stock, valued at $8,478,032.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 4,584 shares of company stock worth $102,040 over the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Baker BROS. Advisors LP boosted its stake in shares of Bicycle Therapeutics by 176.1% during the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after purchasing an additional 3,152,433 shares in the last quarter. Armistice Capital LLC lifted its stake in shares of Bicycle Therapeutics by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares during the period. First Light Asset Management LLC grew its holdings in Bicycle Therapeutics by 16.1% in the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after purchasing an additional 191,717 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Bicycle Therapeutics by 13.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after acquiring an additional 121,613 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after purchasing an additional 4,976 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC traded down $0.50 during mid-day trading on Thursday, reaching $27.01. 4,389 shares of the company were exchanged, compared to its average volume of 346,394. Bicycle Therapeutics has a twelve month low of $12.54 and a twelve month high of $28.67. The stock has a market capitalization of $1.16 billion, a P/E ratio of -6.18 and a beta of 0.89. The company’s 50-day simple moving average is $23.61 and its 200-day simple moving average is $22.93. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BCYC. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, B. Riley lowered shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.