Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Update

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a large growth in short interest during the month of 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 trading volume of 591,800 shares, the days-to-cover ratio is currently 6.7 days.

Insiders Place Their Bets

In other Bicycle Therapeutics news, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,933 shares of company stock valued at $549,501 in the last three months. 8.50% of the stock is currently owned by insiders.

Institutional Trading of Bicycle Therapeutics

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in Bicycle Therapeutics by 97.2% in the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after acquiring an additional 161,100 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth $206,000. Avoro Capital Advisors LLC acquired a new position in shares of Bicycle Therapeutics during the second quarter worth $14,168,000. Marshall Wace LLP purchased a new position in Bicycle Therapeutics in the second quarter valued at $1,801,000. Finally, First Light Asset Management LLC raised its stake in Bicycle Therapeutics by 16.1% in the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after buying an additional 191,717 shares in the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Stock Down 1.8 %

BCYC stock traded down $0.25 during midday trading on Friday, hitting $13.34. The company’s stock had a trading volume of 203,978 shares, compared to its average volume of 814,647. Bicycle Therapeutics has a 52-week low of $12.17 and a 52-week high of $28.67. The firm has a 50-day simple moving average of $17.54 and a 200-day simple moving average of $21.46. The firm has a market capitalization of $921.13 million, a P/E ratio of -4.05 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.82 million. During the same period in the previous year, the firm posted ($1.26) EPS. Bicycle Therapeutics’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, sell-side analysts expect that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BCYC shares. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Monday, January 13th. Stephens initiated coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, January 13th. JMP Securities cut their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, B. Riley lowered their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.