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 during the month of April. As of April 15th, there was short interest totalling 2,960,000 shares, a growth of 16.5% from the March 31st total of 2,540,000 shares. Based on an average daily volume of 399,400 shares, the days-to-cover ratio is presently 7.4 days.

Bicycle Therapeutics Trading Up 0.2 %

NASDAQ BCYC opened at $23.45 on Wednesday. Bicycle Therapeutics has a 12 month low of $12.54 and a 12 month high of $28.91. The stock has a 50 day moving average of $23.99 and a 200-day moving average of $19.37. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.08. The company has a market cap of $704.44 million, a PE ratio of -4.57 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.07. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. The business had revenue of $5.33 million for the quarter, compared to analysts’ expectations of $11.68 million. On average, equities research analysts anticipate that Bicycle Therapeutics will post -5.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on BCYC shares. HC Wainwright decreased their price objective on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.86.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the sale, the chief executive officer now directly owns 387,270 shares of the company’s stock, valued at approximately $9,220,898.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 5,312 shares of company stock valued at $126,139. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. AE Wealth Management LLC bought a new position in Bicycle Therapeutics during the 3rd quarter worth $498,000. Harbor Capital Advisors Inc. increased its position in Bicycle Therapeutics by 15.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,210 shares of the company’s stock worth $486,000 after buying an additional 3,165 shares during the period. BluePath Capital Management LLC bought a new position in Bicycle Therapeutics during the 3rd quarter worth $31,000. TD Asset Management Inc increased its position in Bicycle Therapeutics by 246.8% during the 3rd quarter. TD Asset Management Inc now owns 81,786 shares of the company’s stock worth $1,643,000 after buying an additional 58,200 shares during the period. Finally, Platinum Investment Management Ltd. bought a new position in shares of Bicycle Therapeutics in the third quarter worth $5,735,000. Institutional investors own 86.15% of the company’s stock.

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.