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

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,360,000 shares, an increase of 12.4% from the August 31st total of 2,100,000 shares. Based on an average daily trading volume, of 291,100 shares, the short-interest ratio is currently 8.1 days.

Analyst Ratings Changes

A number of brokerages recently weighed in on BCYC. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Oppenheimer reissued an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. JMP Securities restated a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Trading Down 2.5 %

BCYC opened at $22.63 on Tuesday. The firm’s 50 day moving average is $23.49 and its 200-day moving average is $22.95. Bicycle Therapeutics has a 52-week low of $12.54 and a 52-week high of $28.20. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $968.09 million, a P/E ratio of -5.09 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.33. The firm had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. Analysts expect that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares in the company, valued at $7,543,252.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 4,555 shares of company stock valued at $89,460. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Baker BROS. Advisors LP raised its holdings in Bicycle Therapeutics by 176.1% in the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after acquiring an additional 3,152,433 shares in the last quarter. Avoro Capital Advisors LLC bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth about $14,168,000. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at about $11,577,000. Armistice Capital LLC raised its stake in shares of Bicycle Therapeutics by 53.6% in the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after purchasing an additional 536,000 shares in the last quarter. Finally, First Light Asset Management LLC lifted its holdings in Bicycle Therapeutics by 16.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after buying an additional 191,717 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.