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

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 4,370,000 shares, an increase of 7.6% from the August 15th total of 4,060,000 shares. Based on an average daily volume of 261,700 shares, the days-to-cover ratio is presently 16.7 days.

Insider Activity

In other news, CEO Kevin Lee sold 1,498 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $25.10, for a total value of $37,599.80. Following the completion of the transaction, the chief executive officer now owns 323,601 shares of the company’s stock, valued at $8,122,385.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 2,346 shares of company stock valued at $58,885. 10.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors have recently bought and sold shares of BCYC. Candriam S.C.A. boosted its position in shares of Bicycle Therapeutics by 10.9% during the 1st quarter. Candriam S.C.A. now owns 1,303,211 shares of the company’s stock worth $25,514,000 after purchasing an additional 128,000 shares in the last quarter. Sio Capital Management LLC boosted its position in shares of Bicycle Therapeutics by 41.5% during the 1st quarter. Sio Capital Management LLC now owns 967,347 shares of the company’s stock worth $20,575,000 after purchasing an additional 283,922 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter worth $15,655,000. First Light Asset Management LLC boosted its position in shares of Bicycle Therapeutics by 0.4% during the 1st quarter. First Light Asset Management LLC now owns 699,328 shares of the company’s stock worth $14,875,000 after purchasing an additional 2,896 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Bicycle Therapeutics by 12.9% during the 1st quarter. Loomis Sayles & Co. L P now owns 643,775 shares of the company’s stock worth $28,249,000 after purchasing an additional 73,728 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BCYC shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, September 7th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Bicycle Therapeutics in a research report on Tuesday, September 12th. HC Wainwright restated a “buy” rating and set a $57.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, August 4th. Morgan Stanley restated an “equal weight” rating and set a $42.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, August 4th. Finally, JMP Securities restated a “market outperform” rating and set a $44.00 price objective on shares of Bicycle Therapeutics in a research report on Tuesday, September 12th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

Bicycle Therapeutics Price Performance

BCYC traded up $0.26 during trading on Tuesday, hitting $21.01. The stock had a trading volume of 7,696 shares, compared to its average volume of 286,028. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.65 and a current ratio of 5.65. The company’s 50-day moving average price is $23.04 and its 200 day moving average price is $22.98. Bicycle Therapeutics has a twelve month low of $18.84 and a twelve month high of $33.49.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.31). The firm had revenue of $11.40 million during the quarter, compared to analyst estimates of $13.77 million. Bicycle Therapeutics had a negative net margin of 621.69% and a negative return on equity of 54.71%. As a group, equities research analysts forecast that Bicycle Therapeutics will post -5.25 earnings per share for the current fiscal 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. It is developing BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease; BT5528, a BTC that is in a Phase I/II clinical trial targeting Ephrin type-A receptor 2; and BT8009, which is in Phase I/II clinical trial targeting Nectin-4.