Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 12.4% in September

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,360,000 shares, an increase of 12.4% from the August 31st total of 2,100,000 shares. Based on an average daily trading volume, of 291,100 shares, the short-interest ratio is presently 8.1 days.

Bicycle Therapeutics Price Performance

BCYC stock traded down $0.19 during trading on Monday, hitting $23.02. The company had a trading volume of 104,502 shares, compared to its average volume of 336,676. The company has a fifty day moving average price of $23.49 and a two-hundred day moving average price of $22.95. Bicycle Therapeutics has a fifty-two week low of $12.54 and a fifty-two week high of $28.20. The company has a market cap of $984.77 million, a P/E ratio of -5.22 and a beta of 0.90. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Equities research analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,194 shares of Bicycle Therapeutics stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the transaction, the chief executive officer now owns 384,076 shares in the company, valued at approximately $7,543,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 4,555 shares of company stock valued at $89,460. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in shares of Bicycle Therapeutics by 10,489.4% in the fourth quarter. BNP Paribas Financial Markets now owns 36,851 shares of the company’s stock valued at $666,000 after buying an additional 36,503 shares during the last quarter. Armistice Capital LLC raised its position in Bicycle Therapeutics by 53.6% in the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after purchasing an additional 536,000 shares during the last quarter. Platinum Investment Management Ltd. raised its position in shares of Bicycle Therapeutics by 26.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 362,080 shares of the company’s stock worth $6,546,000 after acquiring an additional 76,601 shares during the last quarter. Parkman Healthcare Partners LLC lifted its stake in shares of Bicycle Therapeutics by 155.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock valued at $5,657,000 after acquiring an additional 190,168 shares during the period. Finally, PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics in the fourth quarter valued at about $137,000. Institutional investors own 86.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Royal Bank of Canada initiated coverage on Bicycle Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Finally, JMP Securities restated a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $44.56.

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.