Bicycle Therapeutics (NASDAQ:BCYC) Stock Bumped Down to “Strong Sell” by Zacks Research

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

BCYC has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Friday, October 2nd. Finally, Needham & Company LLC cut their price target on 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 issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.86.

Bicycle Therapeutics Stock Performance

BCYC stock opened at $3.60 on Wednesday. Bicycle Therapeutics has a 52 week low of $3.33 and a 52 week high of $9.08. The company’s 50-day simple moving average is $3.93 and its 200 day simple moving average is $4.26.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCYC. GAMMA Investing LLC raised its stake in Bicycle Therapeutics by 512.9% in the second quarter. GAMMA Investing LLC now owns 7,704 shares of the company’s stock valued at $33,000 after purchasing an additional 6,447 shares in the last quarter. Portland Investment Counsel Inc. acquired a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $64,000. Royal Bank of Canada boosted 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 acquiring an additional 3,788 shares in the last quarter. R Squared Ltd bought a new position in Bicycle Therapeutics in the first quarter valued at approximately $98,000. Finally, FNY Investment Advisers LLC increased its stake in Bicycle Therapeutics by 247.4% in the second quarter. FNY Investment Advisers LLC now owns 26,250 shares of the company’s stock valued at $111,000 after acquiring an additional 18,693 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

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.