Short Interest in Bicycle Therapeutics plc (NASDAQ:BCYC) Grows By 14.9%

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a large growth in short interest in 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 short-interest ratio is currently 6.7 days.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC traded down $0.25 on Friday, reaching $13.34. The stock had a trading volume of 203,978 shares, compared to its average volume of 814,647. The stock has a market cap of $921.13 million, a P/E ratio of -4.05 and a beta of 0.92. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67. The business’s 50-day moving average price is $17.54 and its 200 day moving average price is $21.47.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the prior year, the firm earned ($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 predict that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently made changes to their positions in the business. Assetmark Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter valued at $34,000. GAMMA Investing LLC boosted 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 acquiring an additional 1,038 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at about $57,000. China Universal Asset Management Co. Ltd. increased its stake in shares of 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 acquiring an additional 2,918 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Wall Street Analysts Forecast Growth

BCYC has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, January 13th. JMP Securities lowered their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. B. Riley decreased their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, HC Wainwright restated a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.