Bicycle Therapeutics plc (NASDAQ:BCYC) Sees Large Decrease in Short Interest

Bicycle Therapeutics plc (NASDAQ:BCYC) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 2,070,000 shares, a decline of 23.0% from the July 15th total of 2,690,000 shares. Based on an average daily trading volume, of 283,600 shares, the short-interest ratio is presently 7.3 days.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,194 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 4,555 shares of company stock valued at $89,460 over the last quarter. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its position in shares of Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after purchasing an additional 2,858 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in Bicycle Therapeutics during the fourth quarter worth $137,000. PDS Planning Inc acquired a new position in shares of Bicycle Therapeutics in the first quarter worth $210,000. XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics in the second quarter valued at $206,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Bicycle Therapeutics during the second quarter valued at $261,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BCYC shares. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.75.

Bicycle Therapeutics Price Performance

Shares of BCYC traded down $0.30 on Friday, reaching $22.42. The stock had a trading volume of 84,866 shares, compared to its average volume of 328,279. Bicycle Therapeutics has a twelve month low of $12.54 and a twelve month high of $27.24. The firm has a market capitalization of $959.11 million, a PE ratio of -5.04 and a beta of 0.94. The firm has a 50-day moving average of $22.30 and a 200 day moving average of $22.63. The company has a quick ratio of 10.42, a current ratio of 10.42 and a debt-to-equity ratio of 0.09.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.33. The company had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. Sell-side analysts expect that Bicycle Therapeutics will post -4.44 EPS for the current 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.