Bicycle Therapeutics (NASDAQ:BCYC) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bicycle Therapeutics from “sell” to “strong sell”, adding to a mixed but cautious analyst sentiment around the stock.
• The company’s latest earnings were weak, with EPS of -$0.87 versus expectations of -$0.62 and revenue of just $0.89 million versus the $7.50 million consensus estimate.
• BCYC shares were trading around $4.81, near their 52-week low of $4.24, while analysts’ consensus rating remains Hold with an average target price of $14.00.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Sunday.

Other equities analysts also recently issued reports about the stock. Citizens Jmp decreased their price objective on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a "market outperform" rating on the stock in a report on Wednesday, March 18th. Morgan Stanley cut their target price on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Weiss Ratings restated a "sell (e+)" rating on shares of Bicycle Therapeutics in a research report on Friday, April 10th. Truist Financial set a $8.00 price target on shares of Bicycle Therapeutics in a research note on Tuesday, March 17th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $12.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.00.

Bicycle Therapeutics Trading Down 1.6%

Shares of BCYC opened at $4.81 on Friday. The firm has a market cap of $335.31 million, a P/E ratio of -1.53 and a beta of 1.56. Bicycle Therapeutics has a 12 month low of $4.24 and a 12 month high of $9.36. The stock's 50 day moving average is $4.99 and its two-hundred day moving average is $6.12.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.25). Bicycle Therapeutics had a negative net margin of 344.95% and a negative return on equity of 35.74%. The business had revenue of $0.89 million for the quarter, compared to analysts' expectations of $7.50 million. Equities research analysts forecast that Bicycle Therapeutics will post -1.99 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 5,967 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total value of $29,297.97. Following the transaction, the chief executive officer directly owned 613,029 shares of the company's stock, valued at approximately $3,009,972.39. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 9,992 shares of company stock valued at $49,363 over the last quarter. Company insiders own 22.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fcpm Iii Services B.V. grew its position in shares of Bicycle Therapeutics by 0.5% in the fourth quarter. Fcpm Iii Services B.V. now owns 3,468,430 shares of the company's stock valued at $24,556,000 after purchasing an additional 16,100 shares in the last quarter. Armistice Capital LLC lifted its position in Bicycle Therapeutics by 8.7% during the fourth quarter. Armistice Capital LLC now owns 3,236,000 shares of the company's stock worth $22,911,000 after buying an additional 258,000 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Bicycle Therapeutics by 2.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 3,016,026 shares of the company's stock worth $21,353,000 after buying an additional 63,483 shares during the last quarter. GSK plc purchased a new stake in Bicycle Therapeutics in the 4th quarter valued at $10,829,000. Finally, Long Focus Capital Management LLC grew its holdings in Bicycle Therapeutics by 7.7% in the 3rd quarter. Long Focus Capital Management LLC now owns 1,418,695 shares of the company's stock valued at $10,981,000 after buying an additional 101,402 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

About Bicycle Therapeutics

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company's core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.

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