Short Interest in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) Decreases By 23.5%

Key Points

• Bicycle Therapeutics PLC saw a significant drop in short interest of 23.5% in July, with 1,660,000 shares sold short as of July 31st.
• Institutional investors have increased their stakes in the company, with Barclays PLC raising its position by 878.3% during the fourth quarter.
• Recent analyst reports downgraded price targets for BCEYC shares, with JMP Securities reducing its price objective from $22.00 to $10.00, while Needham & Company LLC maintains a "buy" rating with a target of $29.00.

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 1,660,000 shares, adeclineof23.5% from the July 15th total of 2,170,000 shares. Based on an average daily volume of 284,000 shares, the days-to-cover ratio is presently 5.8 days. Approximately3.1% of the company's stock are sold short. Approximately3.1% of the company's stock are sold short. Based on an average daily volume of 284,000 shares, the days-to-cover ratio is presently 5.8 days.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock traded down $0.0550 on Monday, hitting $7.0450. The company's stock had a trading volume of 134,737 shares, compared to its average volume of 320,466. The stock's 50 day moving average is $7.71 and its 200-day moving average is $8.58. Bicycle Therapeutics has a fifty-two week low of $6.10 and a fifty-two week high of $28.67. The company has a market capitalization of $487.89 million, a PE ratio of -2.02 and a beta of 1.44.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. The business had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. On average, research analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley decreased their price objective on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada set a $27.00 price target on shares of Bicycle Therapeutics and gave the stock an "outperform" rating in a research note on Monday, August 11th. Barclays decreased their price target 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. JMP Securities decreased their price target on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $29.00 price objective on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.22.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in shares of Bicycle Therapeutics by 406.2% in the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock worth $63,769,000 after purchasing an additional 3,655,101 shares during the period. Baker BROS. Advisors LP increased its position in shares of Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock worth $152,395,000 after purchasing an additional 1,485,397 shares during the period. Fcpm Iii Services B.V. increased its position in shares of Bicycle Therapeutics by 47.5% in the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock worth $48,333,000 after purchasing an additional 1,112,369 shares during the period. Long Focus Capital Management LLC increased its position in shares of Bicycle Therapeutics by 138.2% in the first quarter. Long Focus Capital Management LLC now owns 1,293,753 shares of the company's stock worth $10,984,000 after purchasing an additional 750,661 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Bicycle Therapeutics by 454.1% in the second quarter. Acadian Asset Management LLC now owns 698,501 shares of the company's stock worth $4,840,000 after purchasing an additional 572,439 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.