Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 12.0% in October

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

Insider Activity

In other 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 value of $157,088.16. Following the transaction, the chief accounting officer now owns 19,241 shares in the company, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lee sold 3,212 shares of the company's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now 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. In the last 90 days, insiders sold 10,840 shares of company stock valued at $259,128. Corporate insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of BCYC. Assetmark Inc. bought a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC boosted its holdings in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company's stock worth $46,000 after acquiring an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company's stock worth $162,000 after acquiring an additional 2,918 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics during the second quarter valued at $206,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter worth about $257,000. Hedge funds and other institutional investors own 86.15% of the company's stock.

Analysts Set New Price Targets

BCYC has been the subject of several recent analyst reports. B. Riley downgraded shares of Bicycle Therapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Stephens assumed coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an "equal weight" rating and a $25.00 price objective on the stock. Oppenheimer restated an "outperform" rating and set a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Bicycle Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $40.13.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC traded down $0.79 during mid-day trading on Friday, hitting $21.79. 325,255 shares of the stock traded hands, compared to its average volume of 355,631. The stock has a fifty day moving average price of $24.62 and a 200-day moving average price of $23.16. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -6.62 and a beta of 0.89. Bicycle Therapeutics has a 52 week low of $13.07 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) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to analysts' expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company's quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.26) EPS. As a group, sell-side analysts predict that Bicycle Therapeutics will post -3.01 EPS 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.