Bicycle Therapeutics plc (NASDAQ:BCYC) Sees Large Growth in Short Interest

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,270,000 shares, a growth of 12.0% from the October 15th total of 2,920,000 shares. Based on an average daily trading volume, of 403,700 shares, the short-interest ratio is presently 8.1 days.

Insider Buying and Selling

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the sale, the chief accounting officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics 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 approximately $8,478,032.64. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,840 shares of company stock worth $259,128 in the last 90 days. 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. Westfield Capital Management Co. LP grew its position in Bicycle Therapeutics by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after purchasing an additional 121,613 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Bicycle Therapeutics by 45.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock valued at $10,001,000 after purchasing an additional 124,809 shares in the last quarter. Baker BROS. Advisors LP grew its position in shares of Bicycle Therapeutics by 176.1% in the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after purchasing an additional 3,152,433 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Bicycle Therapeutics by 27.2% during the second quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company’s stock worth $1,119,000 after purchasing an additional 11,809 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after purchasing an additional 4,976 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BCYC shares. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.13.

Bicycle Therapeutics Stock Down 1.7 %

Shares of BCYC traded down $0.38 during mid-day trading on Monday, hitting $21.41. 61,737 shares of the company traded hands, compared to its average volume of 354,313. The business has a 50 day moving average of $24.62 and a 200 day moving average of $23.15. The company has a market capitalization of $1.02 billion, a PE ratio of -6.62 and a beta of 0.89. Bicycle Therapeutics has a 1-year low of $13.07 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. 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 prior year, the company earned ($1.26) EPS. Bicycle Therapeutics’s quarterly revenue was down 50.0% on a year-over-year basis. As a group, research analysts expect that Bicycle Therapeutics will post -3.01 EPS for the current fiscal year.

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.