Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Update

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a significant 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 daily trading volume, of 403,700 shares, the short-interest ratio is currently 8.1 days.

Bicycle Therapeutics Price Performance

BCYC traded down $0.79 during mid-day trading on Friday, reaching $21.79. 325,255 shares of the company traded hands, compared to its average volume of 402,957. The company’s fifty day moving average price is $24.62 and its 200-day moving average price is $23.16. Bicycle Therapeutics has a 52-week low of $13.07 and a 52-week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Bicycle Therapeutics’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.26) earnings per share. On average, equities analysts anticipate that Bicycle Therapeutics will post -3.01 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors have recently made changes to their positions in BCYC. Assetmark Inc. purchased a new stake in Bicycle Therapeutics during the third quarter valued at approximately $34,000. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 105.1% in the 3rd 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 position in Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after purchasing an additional 2,918 shares in the last quarter. XTX Topco Ltd bought a new stake in Bicycle Therapeutics during the second quarter valued at about $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Bicycle Therapeutics in the third quarter worth about $257,000. Institutional investors own 86.15% of the company’s stock.

Analysts Set New Price Targets

BCYC has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. JMP Securities restated a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, Stephens started coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $40.13.

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.