Short Interest in Bicycle Therapeutics plc (NASDAQ:BCYC) Grows By 6.1%

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 2,780,000 shares, a growth of 6.1% from the May 31st total of 2,620,000 shares. Based on an average trading volume of 364,600 shares, the short-interest ratio is currently 7.6 days.

Bicycle Therapeutics Stock Down 1.2 %

Shares of NASDAQ:BCYC opened at $19.58 on Thursday. The company has a quick ratio of 10.42, a current ratio of 10.42 and a debt-to-equity ratio of 0.09. Bicycle Therapeutics has a 52-week low of $12.54 and a 52-week high of $27.50. The stock’s fifty day simple moving average is $22.30 and its 200-day simple moving average is $21.61. The company has a market capitalization of $837.63 million, a P/E ratio of -4.40 and a beta of 0.94.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.63. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The business had revenue of $19.53 million for the quarter, compared to the consensus estimate of $6.06 million. Bicycle Therapeutics’s quarterly revenue was up 298.9% compared to the same quarter last year. As a group, equities research analysts forecast that Bicycle Therapeutics will post -4.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BCYC. HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.86.

Hedge Funds Weigh In On Bicycle Therapeutics

Several large investors have recently added to or reduced their stakes in BCYC. Kennedy Capital Management LLC lifted its position in Bicycle Therapeutics by 27.2% during the third quarter. Kennedy Capital Management LLC now owns 156,705 shares of the company’s stock worth $3,148,000 after buying an additional 33,517 shares during the period. RA Capital Management L.P. acquired a new stake in Bicycle Therapeutics during the third quarter worth about $16,072,000. Polar Capital Holdings Plc grew its stake in shares of Bicycle Therapeutics by 33.2% in the third quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock valued at $20,321,000 after buying an additional 252,000 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Bicycle Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock valued at $122,000 after buying an additional 1,706 shares in the last quarter. Finally, Woodstock Corp grew its stake in shares of Bicycle Therapeutics by 4.5% in the fourth quarter. Woodstock Corp now owns 21,479 shares of the company’s stock valued at $388,000 after buying an additional 926 shares in the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.