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

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) was the target of a significant 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. Currently,3.1% of the shares of the company are sold short. Based on an average trading volume of 284,000 shares, the short-interest ratio is currently 5.8 days. Based on an average trading volume of 284,000 shares, the short-interest ratio is currently 5.8 days. Currently,3.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after buying an additional 2,345 shares during the period. Ausdal Financial Partners Inc. bought a new stake in Bicycle Therapeutics during the 2nd quarter worth approximately $70,000. Sei Investments Co. bought a new stake in Bicycle Therapeutics during the 2nd quarter worth approximately $74,000. Virtus Investment Advisers LLC increased its holdings in shares of Bicycle Therapeutics by 32.6% in the second quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company’s stock worth $75,000 after purchasing an additional 2,659 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock worth $76,000 after purchasing an additional 8,065 shares during the period. 86.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on BCYC shares. JMP Securities lowered their price objective on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 12th. Morgan Stanley lowered their price target on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $44.00 price target (down previously from $48.00) on shares of Bicycle Therapeutics in a report on Monday, August 11th. Needham & Company LLC restated a “buy” rating and issued a $29.00 target price on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Finally, B. Riley lowered their target price 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. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.22.

Bicycle Therapeutics Price Performance

Shares of BCYC stock opened at $7.03 on Thursday. The company’s fifty day simple moving average is $7.77 and its two-hundred day simple moving average is $8.71. Bicycle Therapeutics has a 1 year low of $6.10 and a 1 year high of $28.67. The stock has a market capitalization of $486.83 million, a price-to-earnings ratio of -2.00 and a beta of 1.44.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). The business had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. Equities research analysts anticipate that Bicycle Therapeutics will post -3.06 EPS 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.