Bicycle Therapeutics (NASDAQ:BCYC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, 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. “
Several other brokerages have also recently issued reports on BCYC. ValuEngine cut Bicycle Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. BidaskClub cut Bicycle Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Oppenheimer reaffirmed a “buy” rating and set a $27.00 target price on shares of Bicycle Therapeutics in a research report on Tuesday, July 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $23.50 target price on shares of Bicycle Therapeutics in a research report on Tuesday, May 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Bicycle Therapeutics in a research report on Friday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $20.75.
NASDAQ BCYC opened at $15.80 on Friday. Bicycle Therapeutics has a 52 week low of $6.24 and a 52 week high of $20.10. The business has a 50 day moving average price of $16.68 and a 200-day moving average price of $14.61.
Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.74). The firm had revenue of $1.13 million for the quarter, compared to the consensus estimate of $10.31 million. Bicycle Therapeutics had a negative net margin of 414.57% and a negative return on equity of 37.80%. On average, equities analysts anticipate that Bicycle Therapeutics will post -2.29 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in Bicycle Therapeutics by 62.2% in the first quarter. Victory Capital Management Inc. now owns 219,734 shares of the company’s stock worth $3,213,000 after purchasing an additional 84,238 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Bicycle Therapeutics in the first quarter worth $179,000. UBS Group AG purchased a new position in Bicycle Therapeutics in the second quarter worth $36,000. Finally, Morgan Stanley boosted its position in Bicycle Therapeutics by 32,450.0% in the first quarter. Morgan Stanley now owns 3,255 shares of the company’s stock worth $44,000 after purchasing an additional 3,245 shares during the last quarter. 33.79% of the stock is currently owned by institutional investors and hedge funds.
About Bicycle Therapeutics
Bicycle Therapeutics Limited, 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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