Bicycle Therapeutics plc (NASDAQ:BCYC) Sees Significant Decline in Short Interest

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BCYC shares. Stephens restated an "equal weight" rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a "buy" rating and set a $30.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, April 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.14.

Get Our Latest Research Report on BCYC

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC opened at $8.56 on Thursday. The company has a market capitalization of $592.37 million, a P/E ratio of -2.60 and a beta of 1.40. Bicycle Therapeutics has a 52-week low of $6.10 and a 52-week high of $28.67. The company's 50 day moving average price is $8.79 and its 200-day moving average price is $14.72.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.85) by $0.10. The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company's revenue for the quarter was down 30.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.16) EPS. Analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after acquiring an additional 2,345 shares during the period. Avior Wealth Management LLC acquired a new position in Bicycle Therapeutics during the fourth quarter worth $57,000. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 879.5% during the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock worth $76,000 after buying an additional 8,065 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Bicycle Therapeutics by 90.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after acquiring an additional 6,057 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Bicycle Therapeutics in the 1st quarter worth $113,000. 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.

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