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

Bicycle Therapeutics (NASDAQ:BCYC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, 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. “

BCYC has been the subject of several other research reports. Canaccord Genuity lifted their target price on shares of Bicycle Therapeutics from $23.50 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. ValuEngine cut shares of Bicycle Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, August 6th. BidaskClub lowered shares of Bicycle Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Oppenheimer restated a “buy” rating and set a $27.00 price target on shares of Bicycle Therapeutics in a research report on Tuesday, July 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $22.40.

Shares of NASDAQ BCYC traded up $1.68 during midday trading on Wednesday, reaching $20.71. The company’s stock had a trading volume of 125,590 shares, compared to its average volume of 40,536. The stock has a market capitalization of $337.64 million, a P/E ratio of -9.96 and a beta of -0.43. The firm has a 50 day moving average price of $17.10 and a 200-day moving average price of $15.66. Bicycle Therapeutics has a 12-month low of $7.50 and a 12-month high of $20.97.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.19). The business had revenue of $1.57 million during the quarter, compared to analysts’ expectations of $2.11 million. Bicycle Therapeutics had a negative return on equity of 43.74% and a negative net margin of 434.29%. On average, equities analysts anticipate that Bicycle Therapeutics will post -2.38 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in BCYC. UBS Group AG bought a new position in shares of Bicycle Therapeutics during the 2nd quarter valued at $36,000. Morgan Stanley boosted its stake in shares of Bicycle Therapeutics by 32,450.0% during the first quarter. Morgan Stanley now owns 3,255 shares of the company’s stock valued at $44,000 after purchasing an additional 3,245 shares during the period. Squarepoint Ops LLC bought a new position in shares of Bicycle Therapeutics in the first quarter worth approximately $179,000. Advisor Group Holdings Inc. increased its stake in shares of Bicycle Therapeutics by 34,000.0% in the second quarter. Advisor Group Holdings Inc. now owns 34,100 shares of the company’s stock worth $537,000 after buying an additional 34,000 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Bicycle Therapeutics by 62.2% during the 1st quarter. Victory Capital Management Inc. now owns 219,734 shares of the company’s stock valued at $3,213,000 after buying an additional 84,238 shares during the last quarter. 35.54% of the stock is owned by institutional investors.

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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