Wall Street Zen Upgrades Bicycle Therapeutics (NASDAQ:BCYC) to "Sell"

Key Points

• Wall Street Zen upgraded Bicycle Therapeutics to “sell” from “strong sell,” while broader analyst sentiment remains “hold,” with five buy, three hold and one sell rating and a consensus price target of $13.86.
• BCYC opened at $3.90, near its $3.74 one-year low, after the company reported a quarterly loss of $0.72 per share and revenue of $0.63 million, both worse than analyst expectations.
• Institutional investors and hedge funds own 86.15% of the stock, while insiders own 22%; CEO Kevin Lee recently sold shares to cover tax withholding obligations tied to vested equity awards.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday.

Several other brokerages have also weighed in on BCYC. 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. Citigroup reiterated a "market outperform" rating on shares of Bicycle Therapeutics in a research report on Wednesday, June 3rd. Weiss Ratings restated a "sell (e+)" rating on shares of Bicycle Therapeutics in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $12.00 target price on shares of Bicycle Therapeutics in a research report on Thursday, April 30th. Five equities research 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.86.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $3.90 on Friday. The firm has a market cap of $272.26 million, a price-to-earnings ratio of -1.43 and a beta of 1.55. The firm's fifty day moving average is $4.10 and its two-hundred day moving average is $4.74. Bicycle Therapeutics has a one year low of $3.74 and a one year high of $9.16.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.14). Bicycle Therapeutics had a negative return on equity of 33.22% and a negative net margin of 311.11%.The firm had revenue of $0.63 million for the quarter, compared to analyst estimates of $4.22 million. As a group, equities research analysts predict that Bicycle Therapeutics will post -2.23 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 5,905 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $4.27, for a total transaction of $25,214.35. Following the completion of the transaction, the chief executive officer directly owned 605,408 shares in the company, valued at approximately $2,585,092.16. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 9,977 shares of company stock valued at $42,702. Corporate insiders own 22.00% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Large investors have recently made changes to their positions in the stock. Armistice Capital LLC lifted its stake in Bicycle Therapeutics by 8.7% during the 4th quarter. Armistice Capital LLC now owns 3,236,000 shares of the company's stock worth $22,911,000 after acquiring an additional 258,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Bicycle Therapeutics by 72.8% in the first 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 during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Bicycle Therapeutics in the fourth quarter valued at approximately $954,000. Flax Pond Capital LLC acquired a new stake in Bicycle Therapeutics during the 4th quarter worth approximately $1,229,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of Bicycle Therapeutics in the fourth quarter worth $71,000. 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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