Bicycle Therapeutics plc (NASDAQ:BCYC) Short Interest Down 5.7% in April

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 2,790,000 shares, a decline of 5.7% from the April 15th total of 2,960,000 shares. Based on an average trading volume of 396,600 shares, the days-to-cover ratio is presently 7.0 days.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the completion of the sale, the chief executive officer now owns 387,270 shares in the company, valued at approximately $9,220,898.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 5,312 shares of company stock worth $126,139. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Large investors have recently bought and sold shares of the business. Baker BROS. Advisors LP boosted its holdings in shares of Bicycle Therapeutics by 176.1% during the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company's stock valued at $123,076,000 after acquiring an additional 3,152,433 shares during the last quarter. Armistice Capital LLC raised its stake 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 buying an additional 536,000 shares during the last quarter. Braidwell LP bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at $25,914,000. Westfield Capital Management Co. LP boosted its stake in shares of Bicycle Therapeutics by 13.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company's stock worth $25,869,000 after buying an additional 121,613 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of Bicycle Therapeutics by 33.2% in the third quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company's stock worth $20,321,000 after acquiring an additional 252,000 shares during the period. 86.15% of the stock is currently owned by institutional investors.

Bicycle Therapeutics Stock Down 0.8 %

Shares of NASDAQ:BCYC traded down $0.18 during trading on Thursday, reaching $22.18. 168,812 shares of the stock traded hands, compared to its average volume of 360,667. The stock has a market cap of $948.86 million, a P/E ratio of -4.98 and a beta of 0.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.42 and a current ratio of 10.42. The stock has a 50-day moving average of $23.58 and a two-hundred day moving average of $19.87. Bicycle Therapeutics has a 52-week low of $12.54 and a 52-week high of $28.91.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.63. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The business had revenue of $19.53 million for the quarter, compared to the consensus estimate of $6.06 million. Bicycle Therapeutics's quarterly revenue was up 298.9% on a year-over-year basis. As a group, sell-side analysts expect that Bicycle Therapeutics will post -4.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BCYC has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and issued a $43.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. Canaccord Genuity Group restated a "buy" rating and set a $60.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. Finally, HC Wainwright reiterated a "buy" rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.86.

About Bicycle Therapeutics

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.