Zacks Investment Research Downgrades Bicycle Therapeutics (NASDAQ:BCYC) to Sell

Bicycle Therapeutics (NASDAQ:BCYC) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Bicycle Therapeutics plc is a clinical-stage biopharmaceutical company. It is focused on developing medicines, referred to as Bicycles(R) for diseases which are underserved by existing therapeutics. Bicycle Therapeutics plc is based in Cambridge, United Kingdom. “

A number of other research analysts also recently issued reports on BCYC. Roth Capital boosted their target price on shares of Bicycle Therapeutics from $35.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. B. Riley boosted their target price on shares of Bicycle Therapeutics from $56.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, October 8th. Oppenheimer boosted their target price on shares of Bicycle Therapeutics from $47.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, October 8th. HC Wainwright restated a “buy” rating and set a $65.00 target price (up from $39.00) on shares of Bicycle Therapeutics in a research report on Friday, October 8th. Finally, JMP Securities restated a “buy” rating and set a $53.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 11th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat, Bicycle Therapeutics has a consensus rating of “Buy” and an average price target of $63.67.

NASDAQ BCYC opened at $56.38 on Tuesday. The firm’s fifty day simple moving average is $38.74 and its two-hundred day simple moving average is $33.55. The company has a current ratio of 9.36, a quick ratio of 9.36 and a debt-to-equity ratio of 0.21. Bicycle Therapeutics has a 12-month low of $17.68 and a 12-month high of $56.81. The firm has a market capitalization of $1.44 billion, a P/E ratio of -19.99 and a beta of -0.42.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, August 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.03). The company had revenue of $1.79 million for the quarter, compared to analysts’ expectations of $2.51 million. Bicycle Therapeutics had a negative net margin of 546.62% and a negative return on equity of 50.43%. As a group, sell-side analysts predict that Bicycle Therapeutics will post -2.82 earnings per share for the current fiscal year.

In other news, CFO Lee Kalowski sold 7,500 shares of the stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $33.02, for a total value of $247,650.00. Following the completion of the sale, the chief financial officer now owns 7,500 shares of the company’s stock, valued at approximately $247,650. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin Lee sold 5,000 shares of the stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $53.88, for a total transaction of $269,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,474 shares of company stock valued at $1,859,850. Insiders own 17.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of BCYC. Acadian Asset Management LLC lifted its holdings in shares of Bicycle Therapeutics by 236.5% in the 1st quarter. Acadian Asset Management LLC now owns 38,460 shares of the company’s stock worth $1,148,000 after acquiring an additional 27,029 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Bicycle Therapeutics in the 1st quarter worth approximately $39,000. Barclays PLC acquired a new position in shares of Bicycle Therapeutics in the 1st quarter worth approximately $612,000. Parkman Healthcare Partners LLC acquired a new position in shares of Bicycle Therapeutics in the 1st quarter worth approximately $2,254,000. Finally, FIL Ltd acquired a new stake in Bicycle Therapeutics during the 1st quarter worth approximately $15,628,000. 48.67% of the stock is owned by institutional investors and hedge funds.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in developing a novel class of medicines, which the company refers to as bicycles, for diseases that are underserved by existing therapeutics. The firm utilizes its novel and proprietary phage display screening platform to identify bicycles.

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