Palo Alto Investors LP Buys New Position in Bicara Therapeutics Inc. $BCAX

Palo Alto Investors LP acquired a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 550,408 shares of the company’s stock, valued at approximately $16,341,614. Bicara Therapeutics comprises approximately 0.0% of Palo Alto Investors LP’s investment portfolio, making the stock its 16th largest position. Palo Alto Investors LP owned 0.83% of Bicara Therapeutics as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Corient Private Wealth LP bought a new position in shares of Bicara Therapeutics in the second quarter valued at approximately $1,089,000. Bank of America Corp DE purchased a new position in shares of Bicara Therapeutics in the 2nd quarter valued at approximately $10,478,000. Jupiter Topco LLC purchased a new stake in Bicara Therapeutics during the 2nd quarter worth approximately $93,957,000. ADAR1 Capital Management LLC acquired a new stake in Bicara Therapeutics during the 2nd quarter worth approximately $407,000. Finally, Legal & General Group Plc acquired a new stake in shares of Bicara Therapeutics during the second quarter worth about $704,000.

Insider Transactions at Bicara Therapeutics

In other Bicara Therapeutics news, CFO Ivan Hyep sold 12,500 shares of Bicara Therapeutics stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.97, for a total transaction of $349,625.00. Following the sale, the chief financial officer owned 129,855 shares of the company’s stock, valued at $3,632,044.35. The trade was a 8.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Claire Mazumdar sold 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.98, for a total value of $279,800.00. Following the sale, the chief executive officer directly owned 362,152 shares of the company’s stock, valued at $10,133,012.96. This represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 108,000 shares of company stock valued at $3,079,236 over the last ninety days. Insiders own 13.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BCAX. Wall Street Zen upgraded Bicara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Mizuho upped their target price on 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 lifted their price objective on shares of Bicara Therapeutics from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Citigroup reaffirmed a “market outperform” rating on shares of Bicara Therapeutics in a report on Friday, August 21st. Finally, BTIG Research raised their price objective on Bicara Therapeutics from $28.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.64.

Bicara Therapeutics Stock Down 5.6%

BCAX stock traded down $1.40 during trading on Friday, hitting $23.43. The company had a trading volume of 524,734 shares, compared to its average volume of 601,806. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -7.56 and a beta of -0.75. The firm has a 50-day moving average price of $26.71 and a 200-day moving average price of $22.36. Bicara Therapeutics Inc. has a 12 month low of $10.30 and a 12 month high of $30.99.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.82). Equities analysts expect that Bicara Therapeutics Inc. will post -3.45 EPS for the current year.

Bicara Therapeutics 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.