Bicycle Therapeutics (NASDAQ:BCYC) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Bicycle Therapeutics (NASDAQ:BCYC) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks reports.

BCYC has been the topic of several other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Friday, October 2nd. Wall Street Zen raised shares of Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Needham & Company LLC dropped their target price on shares of Bicycle Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.86.

Bicycle Therapeutics Trading Up 2.6%

NASDAQ:BCYC opened at $3.60 on Wednesday. Bicycle Therapeutics has a 12-month low of $3.33 and a 12-month high of $9.08. The stock has a 50-day moving average price of $3.93 and a 200 day moving average price of $4.26. The stock has a market capitalization of $251.96 million, a P/E ratio of -1.32 and a beta of 1.68.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.14). Bicycle Therapeutics had a negative return on equity of 33.22% and a negative net margin of 311.11%. The business had revenue of $0.63 million during the quarter, compared to analysts’ expectations of $4.22 million. On average, research analysts predict that Bicycle Therapeutics will post -2.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in Bicycle Therapeutics by 72.8% during the first quarter. Renaissance Technologies LLC now owns 979,300 shares of the company’s stock valued at $4,544,000 after buying an additional 412,700 shares during the last quarter. Flax Pond Capital LLC bought a new stake in Bicycle Therapeutics in the 4th quarter worth approximately $1,229,000. Rangeley Capital LLC increased its stake in Bicycle Therapeutics by 76.0% in the 1st quarter. Rangeley Capital LLC now owns 232,260 shares of the company’s stock worth $1,078,000 after acquiring an additional 100,260 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $309,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter worth approximately $331,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

About Bicycle Therapeutics

Bicycle Therapeutics plc (NASDAQ:BCYC) is a clinical-stage biotechnology company developing medicines based on its proprietary Bicycle molecule platform. The platform uses short, chemically constrained peptides designed to bind selectively to biological targets, with the goal of combining the tissue penetration and target specificity of small molecules with some of the binding characteristics of larger biologic medicines.

The company is focused primarily on oncology and is developing Bicycle toxin conjugates, immune-cell engaging molecules and other targeted therapeutics.