Bicycle Therapeutics (NASDAQ:BCYC) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Bicycle Therapeutics from “strong sell” to “hold.” Across analysts, the stock’s average rating is “Hold,” with an average price target of $13.57.
• BCYC shares traded at $3.37, near their 52-week low of $3.26; the stock has a market capitalization of about $236 million.
• The company reported quarterly EPS of -$0.15, beating estimates of -$0.40, and revenue of $34.06 million, above the $12.22 million consensus.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Thursday, Zacks reports.

Several other research firms also recently issued reports on BCYC. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Bicycle Therapeutics in a research note on Friday, October 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $10.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 29th. Needham & Company LLC dropped their target price on shares of Bicycle Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Bicycle Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.57.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC traded down $0.08 during trading on Thursday, hitting $3.37. 604,366 shares of the company were exchanged, compared to its average volume of 408,886. The company has a market cap of $236.20 million, a price-to-earnings ratio of -1.66 and a beta of 1.59. Bicycle Therapeutics has a 1 year low of $3.26 and a 1 year high of $7.83. The firm's fifty day moving average price is $3.70 and its 200 day moving average price is $4.42.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.25. Bicycle Therapeutics had a negative return on equity of 26.02% and a negative net margin of 169.75%. The business had revenue of $34.06 million for the quarter, compared to analysts' expectations of $12.22 million. On average, research analysts forecast that Bicycle Therapeutics will post -2.11 earnings per share for the current year.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in shares of Bicycle Therapeutics by 72.8% in the 1st quarter. Renaissance Technologies LLC now owns 979,300 shares of the company's stock valued at $4,544,000 after purchasing an additional 412,700 shares in the last quarter. Rangeley Capital LLC grew its position in shares of Bicycle Therapeutics by 76.0% during the first quarter. Rangeley Capital LLC now owns 232,260 shares of the company's stock worth $1,078,000 after buying an additional 100,260 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Bicycle Therapeutics during the second quarter worth approximately $309,000. ADAR1 Capital Management LLC bought a new stake in shares of Bicycle Therapeutics in the first quarter worth $331,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Bicycle Therapeutics in the third quarter worth $142,000. Institutional investors and hedge funds own 86.15% of the company's stock.

Bicycle Therapeutics Company Profile

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.

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