Short Interest in Bicycle Therapeutics plc (NASDAQ:BCYC) Increases By 12.0%

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,270,000 shares, a growth of 12.0% from the October 15th total of 2,920,000 shares. Based on an average daily volume of 403,700 shares, the short-interest ratio is currently 8.1 days.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Stephens began coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. JMP Securities restated a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.13.

Insider Activity at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,840 shares of company stock worth $259,128 over the last three months. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Assetmark Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC increased its holdings in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after buying an additional 2,918 shares in the last quarter. XTX Topco Ltd acquired a new position in Bicycle Therapeutics during the second quarter worth $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Bicycle Therapeutics in the 3rd quarter valued at $257,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $21.79 on Friday. Bicycle Therapeutics has a 1 year low of $13.07 and a 1 year high of $28.67. The firm has a market capitalization of $1.04 billion, a PE ratio of -6.62 and a beta of 0.89. The business’s 50 day moving average price is $24.62 and its 200-day moving average price is $23.16.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same quarter last year, the firm posted ($1.26) EPS. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, analysts expect that Bicycle Therapeutics will post -3.01 earnings per share for the current year.

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.