Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Update

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) was the target of a significant growth in short interest in 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.

Wall Street Analyst Weigh In

BCYC has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. B. Riley cut shares of Bicycle Therapeutics from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Stephens assumed coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They issued an "equal weight" rating and a $25.00 price objective on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $40.13.

Insider Activity

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares of the company's stock, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lee sold 3,212 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents 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 over the last three months. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Bicycle Therapeutics by 79.3% during the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company's stock worth $868,000 after purchasing an additional 16,958 shares during the last quarter. Jane Street Group LLC increased its position in Bicycle Therapeutics by 35.7% in the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock worth $457,000 after buying an additional 5,310 shares during the period. State Street Corp lifted its holdings in shares of Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company's stock worth $1,952,000 after buying an additional 60,399 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company's stock valued at $20,362,000 after acquiring an additional 841,299 shares during the period. Finally, HighVista Strategies LLC grew its stake in shares of Bicycle Therapeutics by 9.7% in the third quarter. HighVista Strategies LLC now owns 139,544 shares of the company's stock worth $3,158,000 after acquiring an additional 12,289 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors.

Bicycle Therapeutics Stock Performance

Shares of BCYC traded down $0.56 during trading hours on Tuesday, hitting $19.45. 455,982 shares of the company were exchanged, compared to its average volume of 415,737. The company has a market cap of $924.85 million, a PE ratio of -5.91 and a beta of 0.86. The firm's 50 day moving average is $23.34 and its 200-day moving average is $22.92. Bicycle Therapeutics has a 52 week low of $14.33 and a 52 week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its earnings results 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. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $2.68 million during the quarter, compared to analysts' expectations of $6.82 million. During the same quarter in the prior year, the business earned ($1.26) earnings per share. The company's revenue was down 50.0% on a year-over-year basis. As a group, equities analysts forecast that Bicycle Therapeutics will post -3.07 earnings per share for the current fiscal year.

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.