Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 7.6% in November

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 3,520,000 shares, an increase of 7.6% from the October 31st total of 3,270,000 shares. Based on an average daily volume of 452,200 shares, the days-to-cover ratio is presently 7.8 days.

Bicycle Therapeutics Price Performance

BCYC stock opened at $19.68 on Thursday. The company has a market cap of $935.86 million, a P/E ratio of -5.98 and a beta of 0.86. Bicycle Therapeutics has a 1 year low of $14.33 and a 1 year high of $28.67. The stock’s fifty day moving average price is $23.27 and its 200-day moving average price is $22.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same period last year, the business posted ($1.26) EPS. As a group, analysts expect that Bicycle Therapeutics will post -3.07 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. The trade was a 24.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the sale, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,840 shares of company stock valued at $259,128 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently bought and sold shares of the stock. Assetmark Inc. bought a new position in Bicycle Therapeutics in the 3rd quarter worth $34,000. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after purchasing an additional 2,918 shares during the period. XTX Topco Ltd bought a new position in Bicycle Therapeutics in the 2nd quarter worth $206,000. Finally, Crossmark Global Holdings Inc. bought a new position in Bicycle Therapeutics in the 3rd quarter worth $257,000. 86.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BCYC. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.13.

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.