Short Interest in Bicycle Therapeutics plc (NASDAQ:BCYC) Grows By 6.1%

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a large increase in short interest in 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 trading volume, of 364,600 shares, the short-interest ratio is currently 7.6 days.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $46.86.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $19.58 on Thursday. The firm has a market cap of $837.63 million, a PE ratio of -4.40 and a beta of 0.94. The company has a current ratio of 10.42, a quick ratio of 10.42 and a debt-to-equity ratio of 0.09. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $27.50. The company has a fifty day moving average price of $22.30 and a 200 day moving average price of $21.61.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.63. The firm had revenue of $19.53 million during the quarter, compared to analyst estimates of $6.06 million. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 49.35%. The firm’s revenue was up 298.9% on a year-over-year basis. Research analysts predict that Bicycle Therapeutics will post -4.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of large investors have recently modified their holdings of the business. Baker BROS. Advisors LP boosted its stake in shares of Bicycle Therapeutics by 176.1% during the 1st 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. Armistice Capital LLC boosted its stake in shares of Bicycle Therapeutics by 53.6% during the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after buying an additional 536,000 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Bicycle Therapeutics by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after buying an additional 121,613 shares during the last quarter. Polar Capital Holdings Plc boosted its stake in shares of 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. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Bicycle Therapeutics by 12.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 883,105 shares of the company’s stock worth $21,989,000 after buying an additional 100,107 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.