Bicycle Therapeutics Limited (NASDAQ:BCYC) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 188,200 shares, a growth of 22.0% from the August 31st total of 154,300 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average trading volume of 74,300 shares, the short-interest ratio is presently 2.5 days.
In related news, major shareholder Plc Glaxosmithkline sold 1,597 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $19.27, for a total value of $30,774.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 26.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Bicycle Therapeutics by 62.2% in the first quarter. Victory Capital Management Inc. now owns 219,734 shares of the company’s stock worth $3,213,000 after acquiring an additional 84,238 shares during the last quarter. Morgan Stanley raised its holdings in Bicycle Therapeutics by 32,450.0% in the 1st quarter. Morgan Stanley now owns 3,255 shares of the company’s stock valued at $44,000 after buying an additional 3,245 shares during the last quarter. Squarepoint Ops LLC bought a new position in Bicycle Therapeutics in the 1st quarter valued at approximately $179,000. FMR LLC bought a new position in Bicycle Therapeutics in the 2nd quarter valued at approximately $3,277,000. Finally, UBS Group AG bought a new position in Bicycle Therapeutics in the 2nd quarter valued at approximately $36,000. 35.54% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on BCYC. Oppenheimer reaffirmed a “buy” rating and set a $27.00 price objective on shares of Bicycle Therapeutics in a research report on Tuesday, September 22nd. BidaskClub cut shares of Bicycle Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. ValuEngine cut shares of Bicycle Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, August 6th. Finally, Canaccord Genuity upped their price objective on shares of Bicycle Therapeutics from $23.50 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Bicycle Therapeutics presently has an average rating of “Buy” and an average target price of $22.40.
BCYC stock opened at $19.50 on Friday. Bicycle Therapeutics has a 12 month low of $7.50 and a 12 month high of $21.59. The firm has a 50-day moving average price of $18.16 and a 200-day moving average price of $16.09.
Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Wednesday, August 5th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.19). The company had revenue of $1.57 million during the quarter, compared to the consensus estimate of $2.11 million. Bicycle Therapeutics had a negative return on equity of 43.74% and a negative net margin of 434.29%. As a group, analysts anticipate that Bicycle Therapeutics will post -2.38 EPS for the current year.
Bicycle Therapeutics Company Profile
Bicycle Therapeutics Limited, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.
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