Bicara Therapeutics’ (BCAX) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Bicara Therapeutics (NASDAQ:BCAX) in a report issued on Monday morning,Benzinga reports. They currently have a $39.00 price objective on the stock.

Several other equities analysts also recently issued reports on BCAX. Citigroup reissued a “market outperform” rating on shares of Bicara Therapeutics in a research report on Friday, August 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Friday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicara Therapeutics in a research report on Thursday, September 10th. Morgan Stanley boosted their price target on Bicara Therapeutics from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group boosted their price target on Bicara Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.82.

Bicara Therapeutics Stock Performance

Shares of BCAX stock opened at $17.91 on Monday. Bicara Therapeutics has a 1-year low of $13.70 and a 1-year high of $30.99. The stock’s fifty day moving average price is $21.21 and its 200 day moving average price is $23.09.

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

Insider Buying and Selling at Bicara Therapeutics

In other Bicara Therapeutics news, CEO Claire Mazumdar sold 10,000 shares of Bicara Therapeutics stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 362,152 shares in the company, valued at approximately $10,133,012.96. The trade was a 2.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Cohlhepp sold 17,500 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $22.90, for a total transaction of $400,750.00. Following the completion of the sale, the chief executive officer directly owned 181,641 shares in the company, valued at $4,159,578.90. This trade represents a 8.79% decrease in their ownership of the stock. 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. Company insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Bicara Therapeutics during the 2nd quarter worth about $114,250,000. Jupiter Topco LLC acquired a new position in shares of Bicara Therapeutics in the 2nd quarter valued at about $93,957,000. Janus Henderson Group PLC boosted its stake in shares of Bicara Therapeutics by 26.2% in the first quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock worth $66,350,000 after buying an additional 692,933 shares during the last quarter. Siren L.L.C. boosted 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 buying an additional 586,001 shares during the last quarter. Finally, Palo Alto Investors LP purchased a new stake in shares of Bicara Therapeutics in the second quarter worth about $16,341,614.

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.