Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Update

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 3,130,000 shares, a decrease of 27.2% from the March 31st total of 4,300,000 shares. Currently, 5.0% of the company's shares are short sold. Based on an average daily volume of 349,300 shares, the short-interest ratio is currently 9.0 days.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of BCYC. Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics during the third quarter worth $10,028,000. State Street Corp grew its stake in shares of Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company's stock valued at $1,952,000 after buying an additional 60,399 shares during the period. Jane Street Group LLC increased its stake in Bicycle Therapeutics by 35.7% during the third quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock worth $457,000 after acquiring an additional 5,310 shares during the last quarter. JPMorgan Chase & Co. increased its position in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Bicycle Therapeutics in the fourth quarter worth $614,000. Hedge funds and other institutional investors own 86.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BCYC. JMP Securities dropped their price objective on Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating for the company in a research note on Friday. HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Morgan Stanley set a $17.00 price target on shares of Bicycle Therapeutics and gave the stock an "equal weight" rating in a research note on Monday. Needham & Company LLC reissued a "buy" rating and issued a $29.00 price objective on shares of Bicycle Therapeutics in a report on Friday. Finally, Barclays decreased their target price on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Bicycle Therapeutics Trading Down 18.0 %

Shares of BCYC traded down $1.63 during trading hours on Tuesday, reaching $7.43. The company had a trading volume of 581,081 shares, compared to its average volume of 396,262. The company has a market capitalization of $514.17 million, a price-to-earnings ratio of -2.26 and a beta of 1.60. Bicycle Therapeutics has a 12-month low of $6.10 and a 12-month high of $28.67. The firm has a 50 day simple moving average of $8.59 and a 200-day simple moving average of $14.13.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm had revenue of $9.98 million during the quarter, compared to analyst estimates of $8.67 million. Sell-side analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share 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.