Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Update

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 3,940,000 shares, a growth 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 currently 6.7 days.

Insider Buying and Selling

In other news, CAO Travis Alvin Thompson sold 6,256 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now owns 19,241 shares of the company's stock, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Alistair Milnes sold 4,578 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $64,504.02. Following the sale, the chief operating officer now owns 100,724 shares of the company's stock, valued at approximately $1,419,201.16. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,933 shares of company stock worth $549,501. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Westfield Capital Management Co. LP increased its holdings in 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 purchasing an additional 327,089 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in 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 valued at $20,362,000 after acquiring an additional 841,299 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Bicycle Therapeutics during the 3rd quarter worth $10,028,000. Handelsbanken Fonder AB lifted its position in shares of Bicycle Therapeutics by 2.4% during the third quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company's stock worth $4,949,000 after purchasing an additional 5,200 shares during the last quarter. Finally, FMR LLC acquired a new stake in Bicycle Therapeutics during the third quarter valued at approximately $3,406,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Trading Down 0.2 %

Shares of BCYC traded down $0.02 during mid-day trading on Wednesday, reaching $12.87. The company had a trading volume of 130,399 shares, compared to its average volume of 341,841. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The firm has a fifty day simple moving average of $15.53 and a 200-day simple moving average of $20.76. The stock has a market cap of $888.67 million, a price-to-earnings ratio of -3.95 and a beta of 0.93.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BCYC shares. B. Riley lowered their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, January 13th. HC Wainwright restated a "buy" rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Finally, Stephens reissued an "equal weight" rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

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.