Bicara Therapeutics (NASDAQ:BCAX) Reaches New 1-Year High – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX) hit a new 52-week high on Tuesday . The company traded as high as $21.63 and last traded at $20.85, with a volume of 552051 shares changing hands. The stock had previously closed at $21.47.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BCAX. BTIG Research reiterated a “buy” rating on shares of Bicara Therapeutics in a report on Thursday, January 15th. Citizens Jmp reiterated a “market outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a report on Tuesday, March 31st. Mizuho upgraded Bicara Therapeutics to a “hold” rating in a research report on Thursday, December 18th. The Goldman Sachs Group boosted their price objective on Bicara Therapeutics from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. Finally, Wells Fargo & Company boosted their price objective on Bicara Therapeutics from $11.00 to $16.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.00.

Bicara Therapeutics Trading Up 1.5%

The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -8.54 and a beta of -1.23. The stock has a 50-day moving average of $17.74 and a 200-day moving average of $17.05.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.04. As a group, research analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bicara Therapeutics news, COO Ryan Cohlhepp sold 17,392 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $18.16, for a total transaction of $315,838.72. Following the completion of the transaction, the chief operating officer owned 205,141 shares in the company, valued at approximately $3,725,360.56. The trade was a 7.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Claire Mazumdar sold 36,766 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $19.17, for a total value of $704,804.22. Following the transaction, the chief executive officer owned 339,392 shares of the company’s stock, valued at $6,506,144.64. This trade represents a 9.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 137,969 shares of company stock worth $2,586,198. Insiders own 15.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Bicara Therapeutics during the 4th quarter worth $45,000. Legal & General Group Plc boosted its position in Bicara Therapeutics by 64.1% during the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock worth $29,000 after acquiring an additional 1,233 shares during the period. Larson Financial Group LLC boosted its position in Bicara Therapeutics by 1,015.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,949 shares of the company’s stock worth $62,000 after acquiring an additional 3,595 shares during the period. Tower Research Capital LLC TRC boosted its position in Bicara Therapeutics by 419.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company’s stock worth $44,000 after acquiring an additional 3,866 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in Bicara Therapeutics by 385.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,775 shares of the company’s stock worth $97,000 after acquiring an additional 4,585 shares during the period.

About Bicara Therapeutics

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.