Bicara Therapeutics (NASDAQ:BCAX) Sets New 52-Week Low – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares hit a new 52-week low on Wednesday. The company traded as low as $8.90 and last traded at $9.98, with a volume of 8,238,482 shares trading hands. The stock had previously closed at $17.48.

Wall Street Analyst Weigh In

A number of research firms have commented on BCAX. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicara Therapeutics in a research note on Thursday, September 10th. Mizuho raised their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Morgan Stanley restated an “overweight” rating on shares of Bicara Therapeutics in a research report on Tuesday, October 20th. Wedbush lifted their price objective on shares of Bicara Therapeutics from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, Wells Fargo & Company upped their target price on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.82.

Bicara Therapeutics Stock Performance

The company has a market cap of $651.58 million, a P/E ratio of -3.18 and a beta of -0.70. The stock has a 50-day moving average of $20.67 and a two-hundred day moving average of $21.28.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, meeting analysts’ consensus estimates of ($0.82). As a group, sell-side analysts forecast that Bicara Therapeutics Inc. will post -3.49 EPS for the current fiscal year.

Insider Transactions at Bicara Therapeutics

In related news, CEO Claire Mazumdar sold 10,000 shares of the stock in a transaction on 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 owned 362,152 shares of the company’s stock, valued at approximately $10,133,012.96. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Cohlhepp sold 17,500 shares of Bicara Therapeutics stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $22.90, for a total transaction 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. The trade was a 8.79% decrease in their position. 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 ninety days, insiders sold 58,750 shares of company stock worth $1,554,800. 13.80% of the stock is currently owned by insiders.

Institutional Trading of Bicara Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Siren L.L.C. grew its stake in shares of Bicara Therapeutics by 11.2% during the first quarter. Siren L.L.C. now owns 5,802,970 shares of the company’s stock valued at $115,421,000 after buying an additional 586,001 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Bicara Therapeutics in the second quarter worth about $114,250,000. Janus Henderson Group PLC lifted its stake in shares of Bicara Therapeutics by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock valued at $66,350,000 after acquiring an additional 692,933 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Bicara Therapeutics in the 2nd quarter valued at about $93,957,000. Finally, Orbimed Advisors LLC boosted its holdings in Bicara Therapeutics by 219.1% during the 1st quarter. Orbimed Advisors LLC now owns 667,300 shares of the company’s stock valued at $13,273,000 after acquiring an additional 458,200 shares during the period.

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.