The Goldman Sachs Group Upgrades Bicara Therapeutics (NASDAQ:BCAX) to “Hold”

Bicara Therapeutics (NASDAQ:BCAX) was upgraded by equities researchers at The Goldman Sachs Group to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on BCAX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Wednesday, April 8th. Citigroup initiated coverage on shares of Bicara Therapeutics in a research note on Thursday, January 29th. They issued an “outperform” rating for the company. BTIG Research reiterated a “buy” rating on shares of Bicara Therapeutics in a research note on Thursday, January 15th. Guggenheim initiated coverage on shares of Bicara Therapeutics in a research note on Monday. They issued a “buy” rating and a $42.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Bicara Therapeutics in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bicara Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $30.27.

Bicara Therapeutics Stock Down 6.3%

NASDAQ BCAX opened at $20.97 on Tuesday. The stock has a market capitalization of $1.38 billion, a PE ratio of -7.54 and a beta of -0.57. The company has a 50 day moving average price of $20.92 and a two-hundred day moving average price of $18.15. Bicara Therapeutics has a 12-month low of $7.80 and a 12-month high of $24.25.

Bicara Therapeutics (NASDAQ:BCAX) last posted its earnings results on Monday, May 11th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.21). As a group, equities analysts anticipate that Bicara Therapeutics will post -3.17 EPS for the current year.

Insider Activity

In other news, CEO Claire Mazumdar sold 36,766 shares of Bicara Therapeutics stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $19.17, for a total value of $704,804.22. Following the transaction, the chief executive officer owned 339,392 shares of the company’s stock, valued at $6,506,144.64. This trade represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ivan Hyep sold 13,555 shares of Bicara Therapeutics stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $18.22, for a total transaction of $246,972.10. Following the completion of the transaction, the chief financial officer directly owned 145,355 shares in the company, valued at approximately $2,648,368.10. This represents a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 174,310 shares of company stock worth $3,459,283. 15.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Bicara Therapeutics in the fourth quarter valued at approximately $45,000. Legal & General Group Plc increased its position in Bicara Therapeutics by 64.1% during the second quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock worth $29,000 after acquiring an additional 1,233 shares during the period. Larson Financial Group LLC increased its position in Bicara Therapeutics by 1,015.5% during the third quarter. Larson Financial Group LLC now owns 3,949 shares of the company’s stock worth $62,000 after acquiring an additional 3,595 shares during the period. Tower Research Capital LLC TRC increased its position in Bicara Therapeutics by 419.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company’s stock worth $44,000 after acquiring an additional 3,866 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in Bicara Therapeutics by 385.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,775 shares of the company’s stock worth $97,000 after acquiring an additional 4,585 shares during the period.

Bicara Therapeutics Company Profile

Bicara Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing novel neurohormone-based therapies for psychiatric and neurological disorders. The company’s research focuses on harnessing endogenous signaling pathways in the brain, with the goal of offering new treatment options for conditions that remain inadequately addressed by existing medications. Bicara applies proprietary peptide engineering and intranasal delivery platforms to optimize central nervous system uptake and therapeutic effect.

The company’s lead candidates include PST-001, an intranasal vasopressin-1A receptor antagonist in development for postpartum depression, and PST-002, an oxytocin receptor modulator being investigated for social anxiety and autism spectrum disorder.