Bicara Therapeutics (NASDAQ:BCAX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Bicara Therapeutics (NASDAQ:BCAX) from a sell rating to a strong sell rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also weighed in on BCAX. BTIG Research reaffirmed a “buy” rating and issued a $39.00 target price on shares of Bicara Therapeutics in a research note on Monday, October 19th. Wedbush lowered their target price on Bicara Therapeutics from $33.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicara Therapeutics in a research note on Thursday, September 10th. Citigroup reissued a “market outperform” rating on shares of Bicara Therapeutics in a research note on Friday, August 21st. Finally, BMO Capital Markets started coverage on Bicara Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.91.

Bicara Therapeutics Stock Down 13.1%

Bicara Therapeutics stock opened at $7.93 on Friday. The stock has a market capitalization of $524.75 million, a PE ratio of -2.56 and a beta of -0.70. Bicara Therapeutics has a twelve month low of $7.87 and a twelve month high of $30.99. The company has a 50 day moving average of $19.42 and a 200-day moving average of $21.11.

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 the consensus estimate of ($0.82). Equities analysts anticipate that Bicara Therapeutics will post -3.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ivan Hyep sold 12,500 shares of Bicara Therapeutics stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $27.97, for a total value of $349,625.00. Following the sale, the chief financial officer directly owned 129,855 shares in the company, valued at $3,632,044.35. This trade represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Ryan Cohlhepp sold 18,750 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 $524,625.00. Following the completion of the sale, the chief operating officer owned 181,641 shares in the company, valued at $5,082,315.18. This trade represents a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 58,750 shares of company stock valued at $1,554,800 in the last quarter. 13.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BCAX. Jupiter Topco LLC bought a new stake in Bicara Therapeutics during the 2nd quarter worth about $93,957,000. Bank of America Corp DE acquired a new position in shares of Bicara Therapeutics during the 2nd quarter worth about $10,478,000. Palo Alto Investors LP bought a new position in shares of Bicara Therapeutics in the 2nd quarter valued at about $16,341,614. Walleye Capital LLC bought a new position in shares of Bicara Therapeutics in the 2nd quarter valued at about $10,487,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bicara Therapeutics by 166.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 109,261 shares of the company’s stock valued at $2,170,000 after acquiring an additional 68,327 shares in the last quarter.

Bicara Therapeutics Company Profile

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.