Bicycle Therapeutics (NASDAQ:BCYC) Upgraded at Zacks Research

Zacks Research upgraded shares of Bicycle Therapeutics (NASDAQ:BCYC) from a strong sell rating to a hold rating in a research note published on Thursday morning,Zacks reports.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC cut their price target on shares of Bicycle Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a $10.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 29th. Wall Street Zen downgraded Bicycle Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.57.

Bicycle Therapeutics Stock Down 2.3%

Shares of BCYC traded down $0.08 during mid-day trading on Thursday, hitting $3.37. The company had a trading volume of 604,366 shares, compared to its average volume of 408,886. The business’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $4.42. Bicycle Therapeutics has a 1-year low of $3.26 and a 1-year high of $7.83. The stock has a market cap of $236.20 million, a PE ratio of -1.66 and a beta of 1.59.

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

Institutional Trading of Bicycle Therapeutics

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Bicycle Therapeutics by 2.3% in the first quarter. Principal Financial Group Inc. now owns 1,174,625 shares of the company’s stock worth $5,450,000 after acquiring an additional 26,353 shares in the last quarter. Renaissance Technologies LLC boosted its position in Bicycle Therapeutics by 72.8% in the 1st 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. Marshall Wace LLP grew its stake in shares of Bicycle Therapeutics by 4.8% during the third quarter. Marshall Wace LLP now owns 835,862 shares of the company’s stock valued at $3,076,000 after acquiring an additional 37,922 shares in the last quarter. Rangeley Capital LLC grew its stake in shares of Bicycle Therapeutics by 76.0% during the first quarter. Rangeley Capital LLC now owns 232,260 shares of the company’s stock valued at $1,078,000 after acquiring an additional 100,260 shares in the last quarter. Finally, Eversept Partners LP grew its stake in shares of Bicycle Therapeutics by 6.6% during the first quarter. Eversept Partners LP now owns 190,715 shares of the company’s stock valued at $885,000 after acquiring an additional 11,800 shares in the last quarter. Hedge funds and other institutional investors 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.