Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 14.9% in January

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,940,000 shares, an increase of 14.9% from the December 31st total of 3,430,000 shares. Based on an average daily volume of 591,800 shares, the days-to-cover ratio is presently 6.7 days.

Insiders Place Their Bets

In other news, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the transaction, the chief accounting officer now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Santiago Arroyo sold 4,943 shares of the company’s 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 transaction, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,933 shares of company stock worth $549,501. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors have recently bought and sold shares of BCYC. Marshall Wace LLP bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth about $1,801,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Bicycle Therapeutics by 275.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock worth $1,971,000 after acquiring an additional 71,434 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Bicycle Therapeutics by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock worth $4,949,000 after acquiring an additional 5,200 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 1,038 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 2,918 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $13.39 on Monday. The firm has a fifty day moving average price of $15.82 and a 200-day moving average price of $20.89. The stock has a market cap of $924.58 million, a PE ratio of -4.07 and a beta of 0.92. Bicycle Therapeutics has a 1 year low of $12.17 and a 1 year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data 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 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 company’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.26) earnings per share. On average, research analysts expect that Bicycle Therapeutics will post -3.05 EPS for the current year.

Analysts Set New Price Targets

BCYC has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, January 13th. JMP Securities lowered their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. B. Riley lowered their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.25.

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.