Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 7.6% in November

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,520,000 shares, a growth of 7.6% from the October 31st total of 3,270,000 shares. Based on an average trading volume of 452,200 shares, the days-to-cover ratio is currently 7.8 days.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $19.68 on Thursday. Bicycle Therapeutics has a 1 year low of $14.33 and a 1 year high of $28.67. The company has a market cap of $935.86 million, a PE ratio of -5.98 and a beta of 0.86. The stock’s 50-day moving average is $23.27 and its 200 day moving average is $22.90.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the previous year, the business earned ($1.26) EPS. Bicycle Therapeutics’s revenue was down 50.0% compared to the same quarter last year. Analysts expect that Bicycle Therapeutics will post -3.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BCYC has been the subject of several recent research reports. Stephens initiated coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target for the company. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Oppenheimer reissued an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.13.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the sale, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BCYC. Point72 Asset Management L.P. grew its holdings in shares of Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after acquiring an additional 841,299 shares during the period. Avoro Capital Advisors LLC purchased a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $14,168,000. Perceptive Advisors LLC purchased a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $11,577,000. Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $10,028,000. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after acquiring an additional 327,089 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.