Zacks Research Upgrades Bicycle Therapeutics (NASDAQ:BCYC) to “Hold”

Bicycle Therapeutics (NASDAQ:BCYC) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday, Zacks reports.

Several other research firms have also recently weighed in on BCYC. Jefferies Financial Group reissued a “buy” rating and issued a $10.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 29th. Wall Street Zen lowered Bicycle Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Friday, October 2nd. Finally, Needham & Company LLC lowered their target price on Bicycle Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.57.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC traded down $0.08 during midday trading on Thursday, reaching $3.37. The company’s stock had a trading volume of 604,366 shares, compared to its average volume of 408,886. The stock has a market capitalization of $236.20 million, a P/E ratio of -1.66 and a beta of 1.59. The firm has a 50 day moving average price of $3.70 and a 200-day moving average price of $4.42. Bicycle Therapeutics has a 12-month low of $3.26 and a 12-month high of $7.83.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.25. The company had revenue of $34.06 million during the quarter, compared to the consensus estimate of $12.22 million. Bicycle Therapeutics had a negative return on equity of 26.02% and a negative net margin of 169.75%. On average, equities analysts predict that Bicycle Therapeutics will post -2.11 EPS for the current year.

Institutional Investors Weigh In On Bicycle Therapeutics

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Bicycle Therapeutics by 512.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,704 shares of the company’s stock worth $33,000 after purchasing an additional 6,447 shares during the period. Portland Investment Counsel Inc. purchased a new position in Bicycle Therapeutics in the second quarter valued at approximately $64,000. Royal Bank of Canada lifted its stake in Bicycle Therapeutics by 35.5% in the first quarter. Royal Bank of Canada now owns 14,470 shares of the company’s stock valued at $67,000 after purchasing an additional 3,788 shares during the last quarter. 49 Wealth Management LLC purchased a new position in Bicycle Therapeutics in the third quarter valued at approximately $84,000. Finally, Vontobel Holding Ltd. grew its holdings in Bicycle Therapeutics by 15.0% during the third quarter. Vontobel Holding Ltd. now owns 23,000 shares of the company’s stock valued at $85,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 86.15% of the company’s stock.

About Bicycle Therapeutics

Bicycle Therapeutics is a clinical-stage biopharmaceutical company developing medicines for serious diseases, with a focus on cancer. Founded in 2009, the company grew out of research at the University of Cambridge in the United Kingdom and has operations in Cambridge, UK, and Cambridge, Massachusetts. The company’s proprietary Bicycle platform creates small, constrained peptides that can bind to specific biological targets. Bicycle Therapeutics is using this technology to develop treatments that may be designed to reach targets that are difficult for conventional drugs to access.