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

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 2,960,000 shares, an increase of 16.5% from the March 31st total of 2,540,000 shares. Based on an average trading volume of 399,400 shares, the days-to-cover ratio is presently 7.4 days.

Bicycle Therapeutics Trading Up 0.2 %

Bicycle Therapeutics stock opened at $23.45 on Wednesday. The stock has a market cap of $704.44 million, a P/E ratio of -4.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.91. The firm’s 50 day moving average price is $23.99 and its 200-day moving average price is $19.37.

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

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total value of $75,191.98. Following the completion of the transaction, the chief executive officer now directly owns 387,270 shares in the company, valued at approximately $9,220,898.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 5,312 shares of company stock worth $126,139 in the last three months. 10.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in Bicycle Therapeutics by 71.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after buying an additional 2,858 shares during the period. Pinnacle Associates Ltd. bought a new position in shares of Bicycle Therapeutics in the first quarter worth about $1,994,000. Woodstock Corp grew its holdings in shares of Bicycle Therapeutics by 16.3% in the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after purchasing an additional 3,502 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Bicycle Therapeutics in the fourth quarter worth about $137,000. Finally, Parkman Healthcare Partners LLC grew its holdings in shares of Bicycle Therapeutics by 155.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock worth $5,657,000 after purchasing an additional 190,168 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BCYC. HC Wainwright cut their price objective on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.86.

About Bicycle Therapeutics

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.