Zacks Investment Research downgraded shares of Bicycle Therapeutics (NASDAQ:BCYC) from a hold rating to a sell rating in a research report released 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 equities analysts also recently issued reports on BCYC. Canaccord Genuity initiated coverage on shares of Bicycle Therapeutics in a report on Monday, June 17th. They issued a buy rating and a $22.00 price objective on the stock. Goldman Sachs Group initiated coverage on shares of Bicycle Therapeutics in a report on Monday, June 17th. They issued a neutral rating on the stock. Jefferies Financial Group initiated coverage on shares of Bicycle Therapeutics in a report on Monday, June 17th. They issued a buy rating and a $22.00 price objective on the stock. Finally, Piper Jaffray Companies initiated coverage on shares of Bicycle Therapeutics in a report on Monday, June 17th. They issued an overweight rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $21.33.

BCYC opened at $7.00 on Tuesday. The business has a 50 day simple moving average of $8.23. Bicycle Therapeutics has a 12-month low of $6.90 and a 12-month high of $14.91.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($1.11). The company had revenue of $1.52 million for the quarter, compared to the consensus estimate of $1.00 million. As a group, analysts expect that Bicycle Therapeutics will post -3.13 EPS for the current year.

In other news, major shareholder Life Sciences Fund V. Lp Sv purchased 385,715 shares of the stock in a transaction on Tuesday, May 28th. The shares were acquired at an average price of $14.00 per share, with a total value of $5,400,010.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Deborah Harland purchased 385,714 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $14.00 per share, for a total transaction of $5,399,996.00. The disclosure for this purchase can be found here.

A number of large investors have recently modified their holdings of BCYC. Monashee Investment Management LLC purchased a new position in Bicycle Therapeutics during the second quarter valued at approximately $532,000. Pentwater Capital Management LP purchased a new position in shares of Bicycle Therapeutics in the second quarter worth $642,000. Laurion Capital Management LP purchased a new position in shares of Bicycle Therapeutics in the second quarter worth $1,006,000. Victory Capital Management Inc. purchased a new position in shares of Bicycle Therapeutics in the second quarter worth $1,403,000. Finally, Atlas Venture Advisors Inc. purchased a new position in shares of Bicycle Therapeutics in the second quarter worth $13,709,000. 8.57% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics Limited, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.

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