Short Interest in Bicycle Therapeutics plc (NASDAQ:BCYC) Increases By 14.9%

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a significant growth in short interest in the month of 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 short-interest ratio is currently 6.7 days.

Insider Activity

In other news, Director Bros. Advisors Lp Baker acquired 985,397 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $13.76 per share, for a total transaction of $13,559,062.72. Following the purchase, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’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 sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,933 shares of company stock valued at $549,501. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at about $3,406,000. The Manufacturers Life Insurance Company lifted its holdings in Bicycle Therapeutics by 33.2% in the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after acquiring an additional 32,313 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Bicycle Therapeutics in the third quarter valued at approximately $10,028,000. State Street Corp grew 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 valued at $1,952,000 after purchasing an additional 60,399 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after purchasing an additional 5,310 shares during the period. 86.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. B. Riley dropped their price target 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. Stephens reissued an “equal weight” rating and issued a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. JMP Securities decreased their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. Finally, HC Wainwright restated a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Bicycle Therapeutics Stock Performance

BCYC stock opened at $13.39 on Friday. Bicycle Therapeutics has a one year low of $12.17 and a one year high of $28.67. The stock has a market capitalization of $924.58 million, a P/E ratio of -4.07 and a beta of 0.92. The company has a 50 day moving average price of $15.82 and a two-hundred day moving average price of $20.93.

Bicycle Therapeutics (NASDAQ:BCYC) last issued 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. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same quarter last year, the firm posted ($1.26) EPS. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. Research analysts forecast that Bicycle Therapeutics will post -3.05 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.