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

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

Bicycle Therapeutics Trading Up 0.2 %

Shares of BCYC stock opened at $23.45 on Wednesday. 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 company has a market cap of $704.44 million, a price-to-earnings ratio of -4.57 and a beta of 0.89. The stock has a 50 day simple moving average of $23.99 and a 200-day simple moving average of $19.37. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.91.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($1.16) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.68 million. On average, equities research analysts expect that Bicycle Therapeutics will post -5.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,158 shares of Bicycle Therapeutics stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the sale, the chief executive officer now owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,312 shares of company stock valued at $126,139 over the last quarter. 10.20% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Several large investors have recently made changes to their positions in the company. Platinum Investment Management Ltd. purchased a new stake in Bicycle Therapeutics in the 3rd quarter valued at $5,735,000. Deutsche Bank AG grew its holdings in Bicycle Therapeutics by 1,051.4% in the 3rd quarter. Deutsche Bank AG now owns 96,370 shares of the company’s stock valued at $1,936,000 after buying an additional 88,000 shares in the last quarter. Braidwell LP purchased a new stake in Bicycle Therapeutics in the 3rd quarter valued at $25,914,000. Exchange Traded Concepts LLC grew 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 buying an additional 1,706 shares in the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in Bicycle Therapeutics by 33.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock valued at $20,321,000 after buying an additional 252,000 shares in the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BCYC. HC Wainwright decreased their price target on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.86.

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.