Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Update

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,940,000 shares, an increase 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 Trading Down 1.8 %

BCYC stock traded down $0.25 during trading hours on Friday, hitting $13.34. 203,978 shares of the stock traded hands, compared to its average volume of 814,647. The stock has a 50-day simple moving average of $17.54 and a 200 day simple moving average of $21.47. Bicycle Therapeutics has a one year low of $12.17 and a one year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.26) earnings per share. On average, sell-side analysts expect that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research report on Monday, January 13th. B. Riley dropped 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 report on Friday, December 13th. Finally, Stephens initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Two 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Insider Activity at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker acquired 500,000 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the purchase, the director now owns 9,995,274 shares of the company’s stock, valued at approximately $153,327,503.16. This represents a 5.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares in the company, valued at approximately $482,190. This trade represents a 7.71 % 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. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCYC. Renaissance Technologies LLC grew its holdings in shares of Bicycle Therapeutics by 97.2% during the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock valued at $6,614,000 after buying an additional 161,100 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at about $206,000. Avoro Capital Advisors LLC purchased a new stake in shares of Bicycle Therapeutics in the second quarter worth approximately $14,168,000. Marshall Wace LLP acquired a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at $1,801,000. Finally, First Light Asset Management LLC increased its stake in shares of Bicycle Therapeutics by 16.1% in the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after acquiring an additional 191,717 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.