Bicara Therapeutics (NASDAQ:BCAX) Shares Up 12.7% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price rose 12.7% during mid-day trading on Tuesday. The company traded as high as $8.72 and last traded at $8.9340. Approximately 121,931 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 732,956 shares. The stock had previously closed at $7.93.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BCAX shares. Mizuho increased their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. HSBC cut shares of Bicara Therapeutics to an “equal weight” rating in a report on Tuesday, September 22nd. Wells Fargo & Company lifted their target price on Bicara Therapeutics from $16.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Bicara Therapeutics in a report on Tuesday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Friday, October 2nd. Two equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.91.

Bicara Therapeutics Stock Down 7.9%

The company has a market capitalization of $541.93 million, a P/E ratio of -2.64 and a beta of -0.33. The business has a 50 day simple moving average of $18.81 and a 200-day simple moving average of $21.03.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.82). Equities analysts forecast that Bicara Therapeutics Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, CEO Ryan Cohlhepp sold 17,500 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $22.90, for a total value of $400,750.00. Following the completion of the transaction, the chief executive officer owned 181,641 shares in the company, valued at approximately $4,159,578.90. This represents a 8.79% decrease in their position. 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 firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $27.97, for a total transaction of $349,625.00. Following the completion of the sale, the chief financial officer owned 129,855 shares in the company, valued at $3,632,044.35. The trade was a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,750 shares of company stock worth $1,554,800 in the last ninety days. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Bicara Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Siren L.L.C. grew its stake in shares of Bicara Therapeutics by 11.2% in the first quarter. Siren L.L.C. now owns 5,802,970 shares of the company’s stock worth $115,421,000 after purchasing an additional 586,001 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Bicara Therapeutics during the second quarter valued at $114,250,000. Janus Henderson Group PLC raised its stake in shares of Bicara Therapeutics by 26.2% during the first quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock valued at $66,350,000 after purchasing an additional 692,933 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Bicara Therapeutics during the second quarter valued at about $93,957,000. Finally, Orbimed Advisors LLC raised its stake in shares of Bicara Therapeutics by 219.1% during the first quarter. Orbimed Advisors LLC now owns 667,300 shares of the company’s stock valued at $13,273,000 after purchasing an additional 458,200 shares in the last quarter.

Bicara Therapeutics Company Profile

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.