Bicycle Therapeutics (NASDAQ:BCYC) Upgraded by Wall Street Zen to “Sell” Rating

Bicycle Therapeutics (NASDAQ:BCYC) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on BCYC. Citigroup reissued a “market outperform” rating on shares of Bicycle Therapeutics in a research report on Wednesday, June 3rd. Citizens Jmp dropped their price target on Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 18th. Oppenheimer reduced their price target on Bicycle Therapeutics from $44.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. Royal Bank Of Canada decreased their price objective on Bicycle Therapeutics from $11.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Finally, Truist Financial set a $8.00 price objective on Bicycle Therapeutics in a research report on Tuesday, March 17th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bicycle Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $4.10 on Friday. Bicycle Therapeutics has a 1 year low of $3.92 and a 1 year high of $9.18. The stock has a market capitalization of $286.22 million, a P/E ratio of -1.30 and a beta of 1.54. The company’s 50-day moving average is $4.49 and its 200 day moving average is $5.42.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.25). The company had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $7.50 million. Bicycle Therapeutics had a negative return on equity of 35.74% and a negative net margin of 344.95%. Research analysts anticipate that Bicycle Therapeutics will post -1.97 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 5,967 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $4.91, for a total value of $29,297.97. Following the sale, the chief executive officer directly owned 613,029 shares of the company’s stock, valued at approximately $3,009,972.39. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 9,992 shares of company stock worth $49,363 in the last three months. 22.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Several large investors have recently modified their holdings of BCYC. Millennium Management LLC grew its position in Bicycle Therapeutics by 156.5% during the 1st quarter. Millennium Management LLC now owns 453,428 shares of the company’s stock valued at $3,850,000 after purchasing an additional 276,671 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Bicycle Therapeutics during the first quarter valued at approximately $214,000. Woodline Partners LP purchased a new stake in shares of Bicycle Therapeutics during the first quarter valued at approximately $3,088,000. Geode Capital Management LLC increased its position in shares of Bicycle Therapeutics by 89.0% during the second quarter. Geode Capital Management LLC now owns 40,412 shares of the company’s stock valued at $281,000 after acquiring an additional 19,035 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Bicycle Therapeutics by 28.9% in the 2nd quarter. Legal & General Group Plc now owns 174,910 shares of the company’s stock worth $1,214,000 after acquiring an additional 39,252 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

About Bicycle Therapeutics

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.