Bicycle Therapeutics (NASDAQ:BCYC) Upgraded to “Hold” at Zacks Investment Research

Bicycle Therapeutics (NASDAQ:BCYCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “

A number of other analysts have also commented on BCYC. Cantor Fitzgerald started coverage on Bicycle Therapeutics in a report on Thursday, April 7th. They issued an “overweight” rating and a $80.00 target price for the company. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $33.00 in a report on Wednesday, April 13th. Morgan Stanley initiated coverage on Bicycle Therapeutics in a report on Monday, February 14th. They issued an “equal weight” rating and a $60.00 price objective for the company. TheStreet lowered Bicycle Therapeutics from a “c-” rating to a “d+” rating in a report on Thursday, April 21st. Finally, JMP Securities cut their price objective on Bicycle Therapeutics from $85.00 to $70.00 and set a “market outperform” rating for the company in a report on Thursday, March 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $65.08.

Shares of Bicycle Therapeutics stock traded down $2.29 on Monday, reaching $18.15. The company’s stock had a trading volume of 628,118 shares, compared to its average volume of 437,352. The company has a market capitalization of $538.07 million, a price-to-earnings ratio of -6.28 and a beta of 0.55. The firm’s fifty day simple moving average is $35.62 and its two-hundred day simple moving average is $46.73. Bicycle Therapeutics has a 52 week low of $17.94 and a 52 week high of $62.08. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.09.

Bicycle Therapeutics (NASDAQ:BCYCGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.25). Bicycle Therapeutics had a negative return on equity of 35.59% and a negative net margin of 568.71%. As a group, research analysts predict that Bicycle Therapeutics will post -3.14 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCYC. Morgan Stanley lifted its position in Bicycle Therapeutics by 2,855.6% during the second quarter. Morgan Stanley now owns 66,206 shares of the company’s stock valued at $2,010,000 after purchasing an additional 63,966 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Bicycle Therapeutics in the second quarter valued at about $618,000. Truist Financial Corp lifted its position in shares of Bicycle Therapeutics by 3.5% in the third quarter. Truist Financial Corp now owns 7,381 shares of the company’s stock valued at $307,000 after acquiring an additional 252 shares in the last quarter. Barclays PLC lifted its position in shares of Bicycle Therapeutics by 33.1% in the third quarter. Barclays PLC now owns 6,122 shares of the company’s stock valued at $255,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Bicycle Therapeutics in the third quarter valued at about $618,000. Institutional investors own 71.99% of the company’s stock.

About Bicycle Therapeutics (Get Rating)

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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