Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 6.1% in June

Bicycle Therapeutics plc (NASDAQ:BCYC) was the recipient of a large growth in short interest during the month of 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 daily 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 Friday. The company has a market cap of $837.63 million, a price-to-earnings ratio of -4.40 and a beta of 0.93. The firm’s 50-day simple moving average is $22.24 and its 200-day simple moving average is $21.59. 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 fifty-two week low of $12.54 and a fifty-two week high of $27.50.

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

Analysts Set New Price Targets

BCYC has been the topic of several research reports. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $46.86.

Institutional Trading of Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Bicycle Therapeutics by 489.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company’s stock valued at $72,000 after purchasing an additional 3,322 shares during the period. Exchange Traded Concepts LLC lifted 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 purchasing an additional 1,706 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at about $137,000. PDS Planning Inc acquired a new stake in shares of Bicycle Therapeutics in the first quarter valued at about $210,000. Finally, Woodstock Corp lifted 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 purchasing an additional 926 shares during the period. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.