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

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a significant growth in short interest in 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 daily volume of 591,800 shares, the short-interest ratio is currently 6.7 days.

Bicycle Therapeutics Price 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 fifty day moving average price of $17.54 and a 200-day moving average price of $21.47. Bicycle Therapeutics has a 1-year low of $12.17 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.04. The firm had revenue of $2.68 million during 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 business’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.26) EPS. On average, equities analysts anticipate that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Santiago Arroyo sold 4,943 shares of the stock in a transaction that occurred 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 in the company, valued at $973,013.13. This represents a 6.68 % 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 2,686 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the transaction, the chief accounting officer now directly owns 32,146 shares in the company, valued at approximately $482,190. This represents a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,933 shares of company stock worth $549,501. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Armistice Capital LLC raised its holdings in Bicycle Therapeutics by 17.9% during the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock worth $39,913,000 after purchasing an additional 300,000 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after acquiring an additional 327,089 shares during the period. First Light Asset Management LLC increased its stake 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 purchasing an additional 191,717 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after buying an additional 841,299 shares in the last quarter. Finally, Avoro Capital Advisors LLC acquired a new position in Bicycle Therapeutics in the 2nd quarter worth $14,168,000. 86.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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