Bicycle Therapeutics (NASDAQ:BCYC) Stock Gets Downgrade from Wall Street Zen

Bicycle Therapeutics (NASDAQ:BCYC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also issued reports on the stock. Zacks Research lowered shares of Bicycle Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Friday, October 2nd. Needham & Company LLC decreased their price target 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. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $10.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 29th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Hold” and an average target price of $13.57.

Bicycle Therapeutics Trading Down 2.3%

Bicycle Therapeutics stock opened at $3.37 on Friday. Bicycle Therapeutics has a fifty-two week low of $3.26 and a fifty-two week high of $7.83. The firm has a 50 day moving average price of $3.70 and a 200 day moving average price of $4.42.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.25. The company had revenue of $34.06 million for the quarter, compared to analyst estimates of $12.22 million. Bicycle Therapeutics had a negative net margin of 169.75% and a negative return on equity of 26.02%. As a group, equities research analysts anticipate that Bicycle Therapeutics will post -2.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BCYC. Renaissance Technologies LLC grew its position in Bicycle Therapeutics by 72.8% during the first quarter. Renaissance Technologies LLC now owns 979,300 shares of the company’s stock worth $4,544,000 after buying an additional 412,700 shares during the period. Rangeley Capital LLC increased its stake in Bicycle Therapeutics by 76.0% in the 1st quarter. Rangeley Capital LLC now owns 232,260 shares of the company’s stock valued at $1,078,000 after purchasing an additional 100,260 shares in the last quarter. Marquette Asset Management LLC acquired a new position in Bicycle Therapeutics during the second quarter worth $309,000. ADAR1 Capital Management LLC acquired a new position in Bicycle Therapeutics during the first quarter worth $331,000. Finally, Tocqueville Asset Management L.P. purchased a new position in Bicycle Therapeutics during the 3rd quarter valued at about $142,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

About Bicycle Therapeutics

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.