Nan Fung Trinity HK Ltd. Takes Position in Bicara Therapeutics Inc. $BCAX

Nan Fung Trinity HK Ltd. purchased a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 342,885 shares of the company’s stock, valued at approximately $3,185,000. Nan Fung Trinity HK Ltd. owned 0.63% of Bicara Therapeutics at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BCAX. TD Asset Management Inc increased its position in shares of Bicara Therapeutics by 71.5% during the second quarter. TD Asset Management Inc now owns 224,538 shares of the company’s stock valued at $2,086,000 after acquiring an additional 93,600 shares during the last quarter. Atle Fund Management AB boosted its position in shares of Bicara Therapeutics by 23.0% during the 2nd quarter. Atle Fund Management AB now owns 147,380 shares of the company’s stock worth $1,369,000 after purchasing an additional 27,547 shares during the period. Rhumbline Advisers increased its holdings in Bicara Therapeutics by 21.1% in the 1st quarter. Rhumbline Advisers now owns 23,018 shares of the company’s stock valued at $300,000 after purchasing an additional 4,010 shares during the last quarter. Woodline Partners LP increased its holdings in Bicara Therapeutics by 26.5% in the 1st quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock valued at $4,543,000 after purchasing an additional 72,998 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Bicara Therapeutics in the first quarter valued at approximately $248,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BCAX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a report on Tuesday, October 14th. Piper Sandler started coverage on shares of Bicara Therapeutics in a report on Monday, August 18th. They issued an “overweight” rating and a $36.00 price objective for the company. HC Wainwright reduced their target price on shares of Bicara Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Bicara Therapeutics in a research note on Monday. Finally, Wells Fargo & Company upped their price objective on Bicara Therapeutics from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bicara Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.

Insiders Place Their Bets

In related news, CFO Ivan Hyep sold 6,415 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $18.23, for a total value of $116,945.45. Following the completion of the transaction, the chief financial officer directly owned 145,355 shares of the company’s stock, valued at $2,649,821.65. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Raben sold 22,000 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $18.45, for a total transaction of $405,900.00. Following the completion of the transaction, the insider owned 35,497 shares in the company, valued at $654,919.65. This represents a 38.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 146,534 shares of company stock worth $2,682,012 in the last three months.

Bicara Therapeutics Trading Up 5.7%

Bicara Therapeutics stock opened at $14.73 on Wednesday. The company has a fifty day simple moving average of $14.75 and a 200-day simple moving average of $12.53. The stock has a market cap of $804.41 million, a P/E ratio of -6.58 and a beta of -0.76. Bicara Therapeutics Inc. has a 12-month low of $7.80 and a 12-month high of $24.15.

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

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.