Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) Short Interest Down 23.5% in July

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 recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,660,000 shares, adropof23.5% from the July 15th total of 2,170,000 shares. Currently,3.1% of the company's stock are short sold. Based on an average daily trading volume, of 284,000 shares, the short-interest ratio is currently 5.8 days. Based on an average daily trading volume, of 284,000 shares, the short-interest ratio is currently 5.8 days. Currently,3.1% of the company's stock are short sold.

Bicycle Therapeutics Stock Performance

BCYC traded down $0.13 on Tuesday, hitting $6.99. The company had a trading volume of 152,773 shares, compared to its average volume of 269,244. The stock has a market capitalization of $484.06 million, a price-to-earnings ratio of -1.99 and a beta of 1.44. The stock has a fifty day moving average price of $7.68 and a 200-day moving average price of $8.53. Bicycle Therapeutics has a 12-month low of $6.10 and a 12-month high of $28.67.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BCYC shares. B. Riley cut their price target on Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. JMP Securities cut their target price on Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. Royal Bank Of Canada set a $27.00 target price on Bicycle Therapeutics and gave the company an "outperform" rating in a research note on Monday, August 11th. Finally, Barclays cut their target price on Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.22.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors have recently added to or reduced their stakes in BCYC. Principal Financial Group Inc. lifted its holdings in shares of Bicycle Therapeutics by 55.3% during the first quarter. Principal Financial Group Inc. now owns 631,260 shares of the company's stock worth $5,359,000 after purchasing an additional 224,790 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Bicycle Therapeutics by 90.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after purchasing an additional 6,057 shares during the period. Baker BROS. Advisors LP lifted its holdings in shares of Bicycle Therapeutics by 15.8% during 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. lifted its holdings in shares of Bicycle Therapeutics by 47.5% during 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. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Bicycle Therapeutics by 1.8% during the first quarter. Westfield Capital Management Co. LP now owns 2,657,305 shares of the company's stock worth $22,561,000 after purchasing an additional 46,968 shares during the period. Institutional investors and hedge funds own 86.15% of the company's stock.

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.