Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Up 16.5% in April

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 2,960,000 shares, an increase of 16.5% from the March 31st total of 2,540,000 shares. Based on an average daily trading volume, of 399,400 shares, the days-to-cover ratio is currently 7.4 days.

Bicycle Therapeutics Trading Up 0.9 %

Shares of NASDAQ:BCYC opened at $22.73 on Monday. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.91. The firm has a market capitalization of $682.81 million, a price-to-earnings ratio of -4.43 and a beta of 0.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08. The business’s 50 day moving average price is $23.96 and its 200-day moving average price is $19.32.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.07. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. The firm had revenue of $5.33 million for the quarter, compared to analyst estimates of $11.68 million. On average, equities research analysts forecast that Bicycle Therapeutics will post -5.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total value of $75,191.98. Following the transaction, the chief executive officer now owns 387,270 shares in the company, valued at approximately $9,220,898.70. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 5,312 shares of company stock worth $126,139. 10.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Woodstock Corp lifted its holdings in Bicycle Therapeutics by 4.5% in the 4th quarter. Woodstock Corp now owns 21,479 shares of the company’s stock valued at $388,000 after purchasing an additional 926 shares in the last quarter. BluePath Capital Management LLC purchased a new position in Bicycle Therapeutics in the 3rd quarter valued at $31,000. Exchange Traded Concepts LLC lifted its holdings in Bicycle Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock valued at $122,000 after purchasing an additional 1,706 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Bicycle Therapeutics by 15.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,210 shares of the company’s stock valued at $486,000 after purchasing an additional 3,165 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Bicycle Therapeutics by 489.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company’s stock valued at $72,000 after purchasing an additional 3,322 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Canaccord Genuity Group restated a “buy” rating and issued a $60.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. HC Wainwright lowered their price objective on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.86.

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.