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

Wall Street Zen downgraded shares of Bicycle Therapeutics (NASDAQ:BCYC) from a sell rating to a strong sell rating in a research note published on Sunday morning.

BCYC has been the topic of a number of other reports. Oppenheimer dropped their target price on Bicycle Therapeutics from $44.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Friday, April 10th. Needham & Company LLC dropped their price objective on Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Truist Financial set a $8.00 price objective on Bicycle Therapeutics in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $12.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.00.

Bicycle Therapeutics Price Performance

BCYC opened at $4.81 on Friday. The firm has a fifty day moving average price of $4.99 and a 200 day moving average price of $6.12. Bicycle Therapeutics has a 1 year low of $4.24 and a 1 year high of $9.36. The stock has a market cap of $335.31 million, a P/E ratio of -1.53 and a beta of 1.56.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.25). Bicycle Therapeutics had a negative net margin of 344.95% and a negative return on equity of 35.74%. The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $7.50 million. Equities analysts expect that Bicycle Therapeutics will post -1.99 EPS for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 5,967 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total transaction of $29,297.97. Following the completion of the sale, the chief executive officer owned 613,029 shares of the company’s stock, valued at $3,009,972.39. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,992 shares of company stock worth $49,363 over the last ninety days. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Bicycle Therapeutics by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,174,625 shares of the company’s stock valued at $5,450,000 after acquiring an additional 26,353 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Bicycle Therapeutics in the first quarter valued at approximately $98,000. Flax Pond Capital LLC acquired a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at approximately $1,229,000. Invesco Ltd. acquired a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at approximately $71,000. Finally, State of Tennessee Department of Treasury lifted its position in Bicycle Therapeutics by 36.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 61,153 shares of the company’s stock worth $433,000 after buying an additional 16,311 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 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.