Bicycle Therapeutics Limited (NASDAQ:BCYC) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 12,000 shares, a decrease of 9.8% from the December 15th total of 13,300 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 34,000 shares, the days-to-cover ratio is currently 0.4 days.

BCYC has been the topic of a number of research analyst reports. Canaccord Genuity set a $22.00 price objective on shares of Bicycle Therapeutics and gave the stock a “buy” rating in a research report on Monday, September 30th. Zacks Investment Research raised shares of Bicycle Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. Finally, Roth Capital initiated coverage on shares of Bicycle Therapeutics in a research report on Thursday, November 14th. They set a “buy” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Bicycle Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $19.00.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pentwater Capital Management LP bought a new position in Bicycle Therapeutics in the 2nd quarter valued at about $642,000. Laurion Capital Management LP bought a new position in Bicycle Therapeutics in the 2nd quarter valued at about $1,006,000. Victory Capital Management Inc. bought a new position in Bicycle Therapeutics in the 2nd quarter valued at about $1,403,000. Finally, SV Health Investors LLC bought a new position in Bicycle Therapeutics in the 2nd quarter valued at about $19,268,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ BCYC traded up $0.27 during trading hours on Thursday, hitting $11.30. The company’s stock had a trading volume of 461 shares, compared to its average volume of 29,467. Bicycle Therapeutics has a 52 week low of $6.24 and a 52 week high of $14.91. The company’s 50-day simple moving average is $9.17 and its two-hundred day simple moving average is $8.99.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.53) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.05. Bicycle Therapeutics had a negative net margin of 342.94% and a negative return on equity of 238.49%. The business had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $1.00 million. On average, sell-side analysts predict that Bicycle Therapeutics will post -3.18 EPS for the current year.

About Bicycle Therapeutics

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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