Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 8.6% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price was up 8.6% during trading on Thursday . The stock traded as high as $27.24 and last traded at $27.8560. 157,005 shares changed hands during trading, a decline of 71% from the average daily volume of 538,355 shares. The stock had previously closed at $25.64.

Wall Street Analysts Forecast Growth

BCAX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Wednesday, April 8th. Morgan Stanley raised their target price on Bicara Therapeutics from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Wedbush reaffirmed an “outperform” rating and set a $30.00 target price on shares of Bicara Therapeutics in a research report on Tuesday, March 31st. Wells Fargo & Company upped their price target on Bicara Therapeutics from $11.00 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen upgraded Bicara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.27.

Bicara Therapeutics Stock Performance

The company’s 50 day simple moving average is $22.02 and its 200 day simple moving average is $19.22. The stock has a market cap of $1.74 billion, a PE ratio of -9.50 and a beta of -0.53.

Bicara Therapeutics (NASDAQ:BCAX) last announced its earnings results on Monday, May 11th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.21). Equities research analysts expect that Bicara Therapeutics Inc. will post -3.48 earnings per share for the current year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, insider David Raben sold 5,500 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $22.88, for a total value of $125,840.00. Following the transaction, the insider directly owned 55,286 shares in the company, valued at $1,264,943.68. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 9,200 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.42, for a total value of $187,864.00. Following the completion of the transaction, the chief financial officer owned 145,355 shares in the company, valued at approximately $2,968,149.10. The trade was a 5.95% decrease in their position. 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 63,900 shares of company stock valued at $1,420,704 over the last quarter. Corporate insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Bicara Therapeutics

Several institutional investors have recently added to or reduced their stakes in BCAX. AQR Capital Management LLC bought a new position in Bicara Therapeutics during the first quarter worth about $248,000. Woodline Partners LP raised its position in shares of Bicara Therapeutics by 26.5% in the first 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 period. Geode Capital Management LLC lifted its stake in shares of Bicara Therapeutics by 36.8% during the 2nd quarter. Geode Capital Management LLC now owns 672,485 shares of the company’s stock valued at $6,248,000 after buying an additional 180,833 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Bicara Therapeutics by 26.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,458 shares of the company’s stock worth $255,000 after buying an additional 5,664 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Bicara Therapeutics by 64.1% in the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock worth $29,000 after buying an additional 1,233 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.