Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Down 23.0% in July

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

Bicycle Therapeutics Trading Down 1.3 %

Shares of BCYC stock traded down $0.30 during trading hours on Friday, reaching $22.42. The company had a trading volume of 84,866 shares, compared to its average volume of 328,279. The company has a 50 day moving average of $22.30 and a 200 day moving average of $22.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.42 and a quick ratio of 10.42. The firm has a market cap of $959.11 million, a price-to-earnings ratio of -5.04 and a beta of 0.94. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $27.24.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data 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. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The company had revenue of $9.36 million during the quarter, compared to analysts’ expectations of $6.13 million. The company’s revenue was down 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Bicycle Therapeutics will post -4.44 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BCYC. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Insider Activity

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 transaction of $62,730.16. Following the transaction, the chief executive officer now owns 384,076 shares in the company, valued at approximately $7,543,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 4,555 shares of company stock worth $89,460 over the last 90 days. 8.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in 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 acquiring an additional 2,858 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Bicycle Therapeutics during the 4th quarter worth approximately $137,000. PDS Planning Inc bought a new position in shares of Bicycle Therapeutics during the 1st quarter worth approximately $210,000. XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $206,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $261,000. 86.15% of the stock is currently owned by institutional investors.

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.