Bicara Therapeutics (NASDAQ:BCAX) Stock Dropped to “Strong Sell” by Wall Street Zen

Wall Street Zen cut shares of Bicara Therapeutics (NASDAQ:BCAX) from a sell rating to a strong sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. HSBC downgraded shares of Bicara Therapeutics to an “equal weight” rating in a report on Tuesday, September 22nd. The Goldman Sachs Group cut shares of Bicara Therapeutics from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $20.00 to $8.00 in a report on Friday. Mizuho boosted their target price on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. BMO Capital Markets started coverage on shares of Bicara Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating on shares of Bicara Therapeutics in a report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.91.

Bicara Therapeutics Stock Performance

Shares of Bicara Therapeutics stock opened at $9.13 on Friday. Bicara Therapeutics has a 52 week low of $8.36 and a 52 week high of $30.99. The stock has a 50 day moving average price of $19.74 and a two-hundred day moving average price of $21.16. The stock has a market capitalization of $604.13 million, a PE ratio of -2.95 and a beta of -0.70.

Bicara Therapeutics (NASDAQ:BCAX) last issued its earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.82). Research analysts forecast that Bicara Therapeutics will post -3.49 EPS for the current year.

Insider Buying and Selling at Bicara Therapeutics

In related news, CEO Claire Mazumdar sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.98, for a total transaction of $279,800.00. Following the transaction, the chief executive officer directly owned 362,152 shares of the company’s stock, valued at $10,133,012.96. This trade represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 12,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.97, for a total transaction of $349,625.00. Following the transaction, the chief financial officer owned 129,855 shares in the company, valued at approximately $3,632,044.35. This trade represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 58,750 shares of company stock worth $1,554,800. Corporate insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Bicara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BCAX. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Bicara Therapeutics in the 3rd quarter worth approximately $63,000. Profund Advisors LLC increased its position in shares of Bicara Therapeutics by 7.2% during the third quarter. Profund Advisors LLC now owns 16,880 shares of the company’s stock valued at $314,000 after acquiring an additional 1,140 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Bicara Therapeutics by 15.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,074 shares of the company’s stock worth $224,000 after acquiring an additional 1,617 shares during the period. Sterling Capital Management LLC lifted its holdings in Bicara Therapeutics by 457.0% during the third quarter. Sterling Capital Management LLC now owns 1,387 shares of the company’s stock worth $26,000 after acquiring an additional 1,138 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in Bicara Therapeutics during the second quarter worth $499,000.

About Bicara Therapeutics

Bicara Therapeutics Inc is a clinical-stage biotechnology company developing bifunctional therapies for the treatment of solid tumors. The company’s approach is designed to combine tumor-targeting activity with immune-system modulation in a single therapeutic candidate.

Bicara’s lead product candidate is ficerafusp alfa, also known as BCA101. The investigational therapy is designed to target epidermal growth factor receptor (EGFR) on cancer cells while simultaneously trapping transforming growth factor beta (TGF-β), a signaling protein that can contribute to tumor growth and immune suppression.