Bicycle Therapeutics (NASDAQ:BCYC) Lowered to "Sell" at Zacks Investment Research
Zacks Investment Research downgraded shares of Bicycle Therapeutics (NASDAQ:BCYC) from a hold rating to a sell rating in a research report released on Monday, Zacks.com reports.
According to Zacks, "Bicycle Therapeutics plc is a clinical-stage biopharmaceutical company. It is focused on developing medicines, referred to as Bicycles(R) for diseases which are underserved by existing therapeutics. Bicycle Therapeutics plc is based in Cambridge, United Kingdom. "
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Several other equities research analysts have also weighed in on BCYC. HC Wainwright reiterated a buy rating and issued a $28.00 target price on shares of Bicycle Therapeutics in a report on Thursday, December 3rd. Cantor Fitzgerald began coverage on shares of Bicycle Therapeutics in a report on Monday, October 12th. They issued an overweight rating and a $30.00 target price on the stock. Oppenheimer reissued a buy rating and set a $27.00 price objective on shares of Bicycle Therapeutics in a research report on Tuesday, September 22nd. Finally, BidaskClub downgraded shares of Bicycle Therapeutics from a hold rating to a sell rating in a research report on Friday, January 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Bicycle Therapeutics presently has an average rating of Hold and a consensus target price of $25.60.
Shares of NASDAQ BCYC opened at $19.85 on Monday. The company's 50 day simple moving average is $19.49 and its 200 day simple moving average is $18.47. Bicycle Therapeutics has a fifty-two week low of $10.26 and a fifty-two week high of $22.71. The firm has a market capitalization of $351.27 million, a P/E ratio of -9.59 and a beta of -0.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.
Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, November 5th. The company reported ($0.52) earnings per share for the quarter, hitting the Thomson Reuters' consensus estimate of ($0.52). The company had revenue of $3.84 million for the quarter, compared to analyst estimates of $1.05 million. Bicycle Therapeutics had a negative net margin of 321.26% and a negative return on equity of 42.73%. Sell-side analysts expect that Bicycle Therapeutics will post -2.26 EPS for the current fiscal year.
In other news, CFO Lee Kalowski sold 9,781 shares of Bicycle Therapeutics stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $20.07, for a total value of $196,304.67. Following the completion of the transaction, the chief financial officer now owns 17,189 shares of the company's stock, valued at approximately $344,983.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 35,000 shares of company stock valued at $716,513. Insiders own 26.30% of the company's stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. increased its holdings in Bicycle Therapeutics by 240.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,363,151 shares of the company's stock valued at $25,968,000 after buying an additional 962,652 shares during the period. Samlyn Capital LLC acquired a new position in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $7,972,000. FMR LLC acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $3,277,000. Advisor Group Holdings Inc. lifted its position in shares of Bicycle Therapeutics by 34,000.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 34,100 shares of the company's stock worth $537,000 after purchasing an additional 34,000 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Bicycle Therapeutics by 8.5% in the 3rd quarter. California Public Employees Retirement System now owns 20,345 shares of the company's stock worth $388,000 after purchasing an additional 1,600 shares during the period. 42.68% 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. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.
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