Zacks Investment Research Lowers Bicycle Therapeutics (NASDAQ:BCYC) to Sell

Bicycle Therapeutics (NASDAQ:BCYC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “

Several other analysts have also recently issued reports on the company. Piper Jaffray Companies assumed coverage on Bicycle Therapeutics in a research note on Monday, June 17th. They issued an “overweight” rating and a $20.00 price objective on the stock. Jefferies Financial Group assumed coverage on Bicycle Therapeutics in a research note on Monday, June 17th. They issued a “buy” rating and a $22.00 price objective on the stock. Canaccord Genuity assumed coverage on Bicycle Therapeutics in a research note on Monday, June 17th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Goldman Sachs Group upgraded Bicycle Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $19.50.



Shares of BCYC traded up $0.38 during midday trading on Wednesday, hitting $11.50. 12,207 shares of the stock were exchanged, compared to its average volume of 40,070. Bicycle Therapeutics has a 52-week low of $6.24 and a 52-week high of $14.91. The stock’s fifty day moving average is $8.08.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($1.11). The firm had revenue of $1.52 million during the quarter, compared to analyst estimates of $1.00 million. Research analysts expect that Bicycle Therapeutics will post -3.13 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Monashee Investment Management LLC acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at $532,000. Pentwater Capital Management LP acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at $642,000. Laurion Capital Management LP acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at $1,006,000. Victory Capital Management Inc. acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at $1,403,000. Finally, Atlas Venture Advisors Inc. acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at $13,709,000. Institutional investors and hedge funds own 37.23% of the company’s stock.

Bicycle Therapeutics Company Profile

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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