Bicycle Therapeutics (NASDAQ:BCYC) Rating Lowered to Strong Sell at Zacks Research

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

Several other research analysts have also recently commented on the company. Wall Street Zen raised Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Bicycle Therapeutics in a report on Friday, October 2nd. Finally, Needham & Company LLC dropped their price objective 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. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.86.

Bicycle Therapeutics Stock Up 2.6%

Shares of BCYC opened at $3.60 on Wednesday. Bicycle Therapeutics has a 12-month low of $3.33 and a 12-month high of $9.08. The firm has a market capitalization of $251.96 million, a price-to-earnings ratio of -1.32 and a beta of 1.68. The stock’s 50-day moving average price is $3.93 and its 200 day moving average price is $4.26.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.14). The firm had revenue of $0.63 million for the quarter, compared to the consensus estimate of $4.22 million. Bicycle Therapeutics had a negative net margin of 311.11% and a negative return on equity of 33.22%. Equities research analysts expect that Bicycle Therapeutics will post -2.26 EPS for the current year.

Institutional Investors Weigh In On Bicycle Therapeutics

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Bicycle Therapeutics by 512.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,704 shares of the company’s stock worth $33,000 after buying an additional 6,447 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Bicycle Therapeutics by 35.5% during the 1st quarter. Royal Bank of Canada now owns 14,470 shares of the company’s stock worth $67,000 after buying an additional 3,788 shares during the period. Portland Investment Counsel Inc. bought a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $64,000. R Squared Ltd acquired a new stake in Bicycle Therapeutics in the 1st quarter valued at $98,000. Finally, FNY Investment Advisers LLC boosted its stake in Bicycle Therapeutics by 247.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 26,250 shares of the company’s stock valued at $111,000 after buying an additional 18,693 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors.

About Bicycle Therapeutics

Bicycle Therapeutics plc (NASDAQ:BCYC) is a clinical-stage biotechnology company developing medicines based on its proprietary Bicycle molecule platform. The platform uses short, chemically constrained peptides designed to bind selectively to biological targets, with the goal of combining the tissue penetration and target specificity of small molecules with some of the binding characteristics of larger biologic medicines.

The company is focused primarily on oncology and is developing Bicycle toxin conjugates, immune-cell engaging molecules and other targeted therapeutics.