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

Bicycle Therapeutics plc (NASDAQ:BCYC) was the target of a large increase in short interest in 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 short-interest ratio is presently 7.4 days.

Bicycle Therapeutics Trading Up 0.9 %

NASDAQ:BCYC opened at $22.73 on Monday. The company has a fifty day moving average of $23.96 and a 200 day moving average of $19.32. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.91. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $682.81 million, a P/E ratio of -4.43 and a beta of 0.89.

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

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 387,270 shares of the company’s stock, valued at approximately $9,220,898.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 5,312 shares of company stock valued at $126,139 in the last quarter. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCYC. Braidwell LP bought a new stake in Bicycle Therapeutics during the 3rd quarter valued at $25,914,000. Westfield Capital Management Co. LP bought a new stake in Bicycle Therapeutics during the 4th quarter valued at $16,585,000. RA Capital Management L.P. bought a new stake in Bicycle Therapeutics during the 3rd quarter valued at $16,072,000. Armistice Capital LLC increased its position in Bicycle Therapeutics by 53.6% during the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after purchasing an additional 536,000 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in Bicycle Therapeutics during the 3rd quarter valued at $9,015,000. 86.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BCYC shares. Needham & Company LLC restated a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. HC Wainwright lowered their price objective on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $60.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bicycle Therapeutics currently 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.