Bicycle Therapeutics plc (NASDAQ: BCYC) sees significant increase in short-term interest


Bicycle Therapeutics plc (NASDAQ:BCYC – Get Rating) was the target of significant short-term interest growth in April. As of April 15, there was short interest totaling 1,750,000 shares, a growth of 230.0% from the March 31 total of 530,300 shares. Based on an average daily volume of 450,800 shares, the short interest rate is currently 3.9 days.

BCYC stock opened at $24.59 on Thursday. Bicycle Therapeutics has a 12-month low of $21.53 and a 12-month high of $62.08. The company has a quick ratio of 12.65, a current ratio of 12.65 and a leverage ratio of 0.09. The stock’s 50-day moving average is $38.88 and its 200-day moving average is $48.51. The company has a market capitalization of $729.00 million and a PE ratio of -9.14.

Bicycle Therapeutics (NASDAQ: BCYC – Get Rating) last reported results on Tuesday, March 1. The company reported ($0.63) earnings per share for the quarter, missing the Zacks consensus estimate of ($0.60) by ($0.03). Bicycle Therapeutics had a negative net margin of 571.25% and a negative return on equity of 33.36%. The company posted revenue of $3.77 million in the quarter, versus a consensus estimate of $6.31 million. On average, stock research analysts expect Bicycle Therapeutics to post -3.05 earnings per share for the current fiscal year.

Several research companies have recently commented on BCYC. Cantor Fitzgerald began coverage of Bicycle Therapeutics in a research note on Thursday, April 7. They set an “overweight” rating and a target price of $80.00 for the company. Needham & Company LLC cut its price target on Bicycle Therapeutics from $85.00 to $75.00 and set a “buy” rating on the stock in a Tuesday, April 12 report. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced its price target for the stock from $62.00 to $33.00 in a Wednesday, April 13 report. Zacks Investment Research downgraded Bicycle Therapeutics from a “buy” rating to a “hold” rating in a Monday, Jan. 10, report. Finally, TheStreet downgraded Bicycle Therapeutics from a “c-” rating to a “d+” rating in a Thursday, April 21 report. Three analysts gave the stock a hold rating and nine gave the company a buy rating. According to MarketBeat, the stock currently has a consensus buy rating and a consensus target price of $65.08.

A number of institutional investors have recently changed their stock portfolios. Truist Financial Corp increased its holdings in Bicycle Therapeutics by 3.5% during the third quarter. Truist Financial Corp now owns 7,381 shares of the company worth $307,000 after acquiring an additional 252 shares during the period. Personal CFO Solutions LLC increased its stake in Bicycle Therapeutics by 3.7% during the third quarter. Personal CFO Solutions LLC now owns 7,558 shares of the company worth $314,000 after acquiring 273 additional shares during the period. Bank of America Corp DE increased its holdings in Bicycle Therapeutics by 17.1% during the fourth quarter. Bank of America Corp DE now owns 2,524 shares of the company worth $153,000 after acquiring 368 additional shares during the period. Citigroup Inc. increased its stake in Bicycle Therapeutics by 424.2% during the fourth quarter. Citigroup Inc. now owns 802 shares of the company worth $49,000 after acquiring an additional 649 shares during the period. Finally, AXA SA increased its stake in Bicycle Therapeutics by 0.6% during the third quarter. AXA SA now owns 198,673 shares of the company worth $8,263,000 after acquiring an additional 1,163 shares during the period. Institutional investors and hedge funds hold 54.69% of the company’s shares.

About Bicycle Therapeutics (Get a rating)

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, is developing a class of drugs for diseases underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin (BTC) conjugate, which is in Phase I/IIa clinical trials targeting tumors that express membrane matrix metalloprotease type 1.

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