Bicara Therapeutics (NASDAQ:BCAX) Price Target Raised to $11.00

Bicara Therapeutics (NASDAQ:BCAX) had its price target boosted by Wells Fargo & Company from $8.00 to $11.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on BCAX. HC Wainwright reduced their price objective on Bicara Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, August 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Bicara Therapeutics in a report on Tuesday, October 14th. Piper Sandler initiated coverage on shares of Bicara Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $36.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Bicara Therapeutics in a research report on Monday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Bicara Therapeutics Trading Down 4.4%

NASDAQ:BCAX opened at $14.26 on Tuesday. The firm has a market capitalization of $781.16 million, a PE ratio of -6.37 and a beta of -0.76. Bicara Therapeutics has a 1 year low of $7.80 and a 1 year high of $24.09. The firm’s fifty day simple moving average is $14.85 and its 200 day simple moving average is $12.56.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.12). As a group, analysts anticipate that Bicara Therapeutics will post -2.59 EPS for the current fiscal year.

Insider Buying and Selling at Bicara Therapeutics

In other news, CEO Claire Mazumdar sold 13,289 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $18.84, for a total transaction of $250,364.76. Following the completion of the transaction, the chief executive officer directly owned 309,892 shares of the company’s stock, valued at approximately $5,838,365.28. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ryan Cohlhepp sold 39,600 shares of Bicara Therapeutics stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $18.06, for a total transaction of $715,176.00. Following the sale, the chief operating officer owned 205,541 shares in the company, valued at approximately $3,712,070.46. This trade represents a 16.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 146,534 shares of company stock worth $2,682,012. Corporate insiders own 15.50% of the company’s stock.

Institutional Investors Weigh In On Bicara Therapeutics

Several large investors have recently modified their holdings of the stock. CWM LLC acquired a new position in shares of Bicara Therapeutics in the 1st quarter worth approximately $29,000. Legal & General Group Plc grew its position in Bicara Therapeutics by 64.1% in the second quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock valued at $29,000 after acquiring an additional 1,233 shares during the period. Ameritas Investment Partners Inc. raised its stake in Bicara Therapeutics by 73.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,493 shares of the company’s stock worth $32,000 after acquiring an additional 1,474 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Bicara Therapeutics by 419.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company’s stock valued at $44,000 after acquiring an additional 3,866 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of Bicara Therapeutics during the first quarter valued at $52,000.

About Bicara Therapeutics

Bicara Therapeutics Inc, a clinical-stage biopharmaceutical company, develops bifunctional therapies for solid tumors. Its lead program is ficerafusp alfa, a bifunctional antibody that combines an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-b) for the treatment of solid tumors.