Bicycle Therapeutics (NASDAQ:BCYC) Stock Lifted to “Hold” by Zacks Research

Bicycle Therapeutics (NASDAQ:BCYC) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

BCYC has been the topic of several other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Friday, October 2nd. Wall Street Zen downgraded shares of Bicycle Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Needham & Company LLC lowered 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 note on Thursday, July 30th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $10.00 target price on shares of Bicycle Therapeutics in a report on Thursday, October 29th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Hold” and an average target price of $13.57.

Bicycle Therapeutics Trading Down 2.3%

Bicycle Therapeutics stock traded down $0.08 during midday trading on Thursday, hitting $3.37. The stock had a trading volume of 604,366 shares, compared to its average volume of 408,886. The business has a fifty day moving average price of $3.70 and a 200 day moving average price of $4.42. Bicycle Therapeutics has a 12 month low of $3.26 and a 12 month high of $7.83. The stock has a market cap of $236.20 million, a P/E ratio of -1.66 and a beta of 1.59.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 29th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.25. Bicycle Therapeutics had a negative return on equity of 26.02% and a negative net margin of 169.75%. The company had revenue of $34.06 million during the quarter, compared to analyst estimates of $12.22 million. On average, equities analysts anticipate that Bicycle Therapeutics will post -2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Bicycle Therapeutics by 512.9% in the second quarter. GAMMA Investing LLC now owns 7,704 shares of the company’s stock worth $33,000 after buying an additional 6,447 shares during the period. Portland Investment Counsel Inc. bought a new stake in Bicycle Therapeutics in the second quarter valued at $64,000. Royal Bank of Canada boosted its holdings in shares of Bicycle Therapeutics by 35.5% during the first quarter. Royal Bank of Canada now owns 14,470 shares of the company’s stock valued at $67,000 after acquiring an additional 3,788 shares during the period. 49 Wealth Management LLC acquired a new position in shares of Bicycle Therapeutics during the third quarter valued at $84,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Bicycle Therapeutics by 15.0% during the third quarter. Vontobel Holding Ltd. now owns 23,000 shares of the company’s stock valued at $85,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics is a clinical-stage biopharmaceutical company developing medicines for serious diseases, with a focus on cancer. Founded in 2009, the company grew out of research at the University of Cambridge in the United Kingdom and has operations in Cambridge, UK, and Cambridge, Massachusetts. The company’s proprietary Bicycle platform creates small, constrained peptides that can bind to specific biological targets. Bicycle Therapeutics is using this technology to develop treatments that may be designed to reach targets that are difficult for conventional drugs to access.