Bicycle Therapeutics (NASDAQ:BCYC) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Bicycle Therapeutics (NASDAQ:BCYC) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other analysts also recently weighed in on BCYC. Royal Bank Of Canada dropped their target price on shares of Bicycle Therapeutics from $11.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. Citizens Jmp lowered their price objective on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 18th. Needham & Company LLC dropped their price objective on shares of Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Jefferies Financial Group reissued a “buy” rating and issued a $12.00 target price on shares of Bicycle Therapeutics in a research report on Thursday. Finally, Morgan Stanley reduced their target price on Bicycle Therapeutics from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Hold” and a consensus target price of $14.00.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC opened at $4.80 on Friday. The company has a market cap of $334.61 million, a PE ratio of -1.52 and a beta of 1.56. The business has a 50-day simple moving average of $5.02 and a two-hundred day simple moving average of $6.21. Bicycle Therapeutics has a fifty-two week low of $4.24 and a fifty-two week high of $9.55.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.25). The company had revenue of $0.89 million for the quarter, compared to analyst estimates of $7.50 million. Bicycle Therapeutics had a negative net margin of 344.95% and a negative return on equity of 34.63%. On average, sell-side analysts predict that Bicycle Therapeutics will post -1.86 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 5,967 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total value of $29,297.97. Following the sale, the chief executive officer owned 613,029 shares in the company, valued at $3,009,972.39. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 9,992 shares of company stock valued at $49,363. 22.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently added to or reduced their stakes in 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 worth $3,850,000 after purchasing an additional 276,671 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Bicycle Therapeutics in the 1st quarter valued at about $214,000. Woodline Partners LP acquired a new position in shares of Bicycle Therapeutics in the 1st quarter valued at about $3,088,000. Geode Capital Management LLC boosted its stake in shares of Bicycle Therapeutics by 89.0% in the second quarter. Geode Capital Management LLC now owns 40,412 shares of the company’s stock worth $281,000 after buying an additional 19,035 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Bicycle Therapeutics by 28.9% in the second quarter. Legal & General Group Plc now owns 174,910 shares of the company’s stock worth $1,214,000 after buying an additional 39,252 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Company Profile

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.