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 December. As of December 31st, there was short interest totalling 3,940,000 shares, a growth of 14.9% from the December 15th total of 3,430,000 shares. Based on an average daily volume of 591,800 shares, the days-to-cover ratio is currently 6.7 days.

Insider Transactions at Bicycle Therapeutics

In related news, Director Bros. Advisors Lp Baker purchased 985,397 shares of the business’s stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the purchase, the director now owns 9,537,643 shares of the company’s stock, valued at $131,237,967.68. This trade represents a 11.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Lee sold 9,038 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $127,345.42. Following the sale, the chief executive officer now directly owns 495,026 shares in the company, valued at $6,974,916.34. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,933 shares of company stock valued at $549,501 in the last quarter. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently made changes to their positions in BCYC. Armistice Capital LLC lifted its holdings in Bicycle Therapeutics by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after buying an additional 327,089 shares in the last quarter. First Light Asset Management LLC boosted its position in Bicycle Therapeutics by 16.1% during the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after acquiring an additional 191,717 shares during the last quarter. Point72 Asset Management L.P. grew its stake in 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 valued at $20,362,000 after acquiring an additional 841,299 shares in the last quarter. Finally, Avoro Capital Advisors LLC purchased a new stake in Bicycle Therapeutics during the 2nd quarter valued at about $14,168,000. 86.15% of the stock is owned by institutional investors and hedge funds.

Bicycle Therapeutics Stock Down 1.8 %

Shares of BCYC stock traded down $0.25 during trading hours on Friday, hitting $13.34. 203,978 shares of the company’s stock were exchanged, compared to its average volume of 814,647. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The firm has a market cap of $921.13 million, a P/E ratio of -4.05 and a beta of 0.92. The firm has a 50 day moving average of $17.54 and a two-hundred day moving average of $21.46.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Stephens assumed coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price on the stock. B. Riley dropped their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.50.

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.