Bicycle Therapeutics (NASDAQ:BCYC) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Bicycle Therapeutics (NASDAQ:BCYC) from "hold" to "sell," though the MarketBeat consensus remains a "Hold" with a $14 average price target amid several recent analyst price cuts.
• Q1 results missed expectations: the company reported a loss per share of $0.87 versus an expected $0.62 and revenue of $0.89M versus $7.5M expected, while shares trade around $4.80 with a market cap of ~$335M near its 12-month low.
• Insider and institutional activity: CEO Kevin Lee sold 5,967 shares to cover tax withholding, insiders own 22.9% of the stock, and institutional investors hold roughly 86.15%, with recent stake increases by firms like Millennium Management.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

BCYC has been the subject of a number of other research reports. Morgan Stanley cut their price objective on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Truist Financial set a $8.00 price objective on shares of Bicycle Therapeutics in a report on Tuesday, March 17th. Needham & Company LLC cut their price objective on shares of Bicycle Therapeutics from $24.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. Jefferies Financial Group reiterated a "buy" rating and issued a $12.00 price objective on shares of Bicycle Therapeutics in a report on Thursday. Finally, Royal Bank Of Canada cut their price objective on shares of Bicycle Therapeutics from $11.00 to $7.00 and set a "sector perform" rating for the company in a report on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.00.

Bicycle Therapeutics Trading Up 1.7%

Shares of Bicycle Therapeutics stock opened at $4.80 on Friday. The firm has a market capitalization of $334.61 million, a PE ratio of -1.52 and a beta of 1.56. Bicycle Therapeutics has a twelve month low of $4.24 and a twelve month high of $9.55. The firm's 50-day moving average price is $5.02 and its 200 day moving average price is $6.22.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.25). The company had revenue of $0.89 million during the quarter, compared to analysts' expectations of $7.50 million. Bicycle Therapeutics had a negative net margin of 344.95% and a negative return on equity of 34.63%. On average, sell-side analysts predict that Bicycle Therapeutics will post -1.86 EPS for the current fiscal year.

Insider Activity

In other news, CEO Kevin Lee sold 5,967 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total transaction of $29,297.97. Following the completion of the sale, the chief executive officer owned 613,029 shares in the company, valued at $3,009,972.39. This trade represents a 0.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 9,992 shares of company stock worth $49,363. 22.90% of the stock is owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Several institutional investors have recently added to or reduced their stakes in BCYC. Millennium Management LLC increased its holdings in Bicycle Therapeutics by 156.5% in the 1st quarter. Millennium Management LLC now owns 453,428 shares of the company's stock valued at $3,850,000 after purchasing an additional 276,671 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in Bicycle Therapeutics in the 1st quarter valued at approximately $214,000. Woodline Partners LP acquired a new stake in Bicycle Therapeutics in the 1st quarter valued at approximately $3,088,000. Geode Capital Management LLC increased its holdings in Bicycle Therapeutics by 89.0% in the 2nd quarter. Geode Capital Management LLC now owns 40,412 shares of the company's stock valued at $281,000 after purchasing an additional 19,035 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Bicycle Therapeutics by 28.9% in the 2nd quarter. Legal & General Group Plc now owns 174,910 shares of the company's stock valued at $1,214,000 after purchasing an additional 39,252 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company's stock.

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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