Bicycle Therapeutics plc (NASDAQ:BCYC) Sees Significant Growth in Short Interest

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 3,520,000 shares, a growth of 7.6% from the October 31st total of 3,270,000 shares. Based on an average daily trading volume, of 452,200 shares, the days-to-cover ratio is presently 7.8 days.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction that occurred on 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 owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors have recently modified their holdings of BCYC. Point72 Asset Management L.P. lifted its position in shares of Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after purchasing an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth $14,168,000. Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth $11,577,000. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics during the 3rd quarter worth $10,028,000. Finally, Westfield Capital Management Co. LP lifted its position in shares of Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after purchasing an additional 327,089 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BCYC. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Finally, Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $40.13.

Bicycle Therapeutics Stock Down 1.9 %

NASDAQ:BCYC opened at $20.01 on Tuesday. The company has a fifty day simple moving average of $23.42 and a two-hundred day simple moving average of $22.94. The company has a market cap of $951.48 million, a price-to-earnings ratio of -6.08 and a beta of 0.89. Bicycle Therapeutics has a 52 week low of $14.33 and a 52 week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.26) earnings per share. On average, analysts expect that Bicycle Therapeutics will post -3.07 EPS for the current year.

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.