Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 14.9% in January

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 3,940,000 shares, a growth of 14.9% from the December 31st total of 3,430,000 shares. Based on an average daily trading volume, of 591,800 shares, the short-interest ratio is presently 6.7 days.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC opened at $13.39 on Monday. Bicycle Therapeutics has a one year low of $12.17 and a one year high of $28.67. The stock has a 50-day moving average of $15.82 and a 200 day moving average of $20.89. The company has a market capitalization of $924.58 million, a price-to-earnings ratio of -4.07 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period last year, the business posted ($1.26) EPS. The company’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities analysts predict that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $69,646.87. Following the sale, the insider now owns 69,057 shares of the company’s stock, valued at $973,013.13. This trade represents a 6.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker acquired 985,397 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the transaction, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 33,933 shares of company stock worth $549,501. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BCYC. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics in the third quarter worth about $34,000. GAMMA Investing LLC boosted its position in Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares during the period. Avior Wealth Management LLC bought a new position in Bicycle Therapeutics in the 4th quarter worth about $57,000. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 acquiring an additional 2,918 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BCYC. B. Riley lowered their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, January 13th. Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Monday, January 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

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.