Weiss Ratings Reiterates Sell (D-) Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Key Points

• Weiss Ratings has reiterated a Sell (D-) rating for Bicycle Therapeutics (NASDAQ:BCYC), while several other brokerages have also adjusted their price targets for the stock.
• Bicycle Therapeutics reported a loss of $1.14 EPS for the last quarter, significantly below analysts' expectations, with revenue coming in at just $2.90 million.
• Institutional investors have shown increased interest in Bicycle Therapeutics, with GAMMA Investing LLC raising its position by 879.5% in the first quarter.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Several other brokerages also recently issued reports on BCYC. Oppenheimer reissued an "outperform" rating and issued a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Royal Bank Of Canada set a $27.00 price target on shares of Bicycle Therapeutics and gave the stock an "outperform" rating in a research report on Monday, August 11th. Morgan Stanley cut their target price on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Finally, JMP Securities cut their target price on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.22.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ:BCYC traded down $0.12 during mid-day trading on Tuesday, hitting $8.00. The stock had a trading volume of 44,303 shares, compared to its average volume of 312,099. The company's 50 day moving average is $7.44 and its 200-day moving average is $7.77. The company has a market cap of $554.41 million, a PE ratio of -2.29 and a beta of 1.47. Bicycle Therapeutics has a 12-month low of $6.10 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.19). The business had revenue of $2.90 million during the quarter, compared to analysts' expectations of $9.43 million. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. On average, equities research analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of the firm's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $8.41, for a total transaction of $27,172.71. Following the transaction, the chief executive officer directly owned 475,310 shares in the company, valued at $3,997,357.10. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 8,527 shares of company stock worth $71,738. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock valued at $76,000 after purchasing an additional 8,065 shares during the period. Exchange Traded Concepts LLC raised its holdings in Bicycle Therapeutics by 90.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after acquiring an additional 6,057 shares during the period. Principal Financial Group Inc. raised its holdings in Bicycle Therapeutics by 55.3% in the 1st quarter. Principal Financial Group Inc. now owns 631,260 shares of the company's stock worth $5,359,000 after acquiring an additional 224,790 shares during the period. Cerity Partners LLC bought a new position in Bicycle Therapeutics in the 1st quarter worth $113,000. Finally, Jefferies Financial Group Inc. bought a new position in Bicycle Therapeutics in the 1st quarter worth $3,471,000. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.

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