Bicara Therapeutics (NASDAQ:BCAX) Downgraded by The Goldman Sachs Group to Sell

Bicara Therapeutics (NASDAQ:BCAX) was downgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $8.00 price target on the stock. The Goldman Sachs Group‘s price objective indicates a potential downside of 17.78% from the company’s current price.

A number of other brokerages have also issued reports on BCAX. BMO Capital Markets assumed coverage on Bicara Therapeutics in a research report on Tuesday, August 18th. They set an “outperform” rating and a $35.00 target price on the stock. Wedbush lowered their price objective on Bicara Therapeutics from $33.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday. Mizuho raised their price target on Bicara Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. HSBC cut shares of Bicara Therapeutics to an “equal weight” rating in a research note on Tuesday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bicara Therapeutics in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Bicara Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.91.

Bicara Therapeutics Stock Performance

Bicara Therapeutics stock opened at $9.73 on Friday. Bicara Therapeutics has a 1 year low of $8.90 and a 1 year high of $30.99. The firm’s 50-day moving average is $20.04 and its 200-day moving average is $21.20.

Bicara Therapeutics (NASDAQ:BCAX) last posted its earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.82). On average, equities research analysts forecast that Bicara Therapeutics will post -3.49 earnings per share for the current year.

Insider Activity

In related news, COO Ryan Cohlhepp sold 18,750 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.98, for a total value of $524,625.00. Following the completion of the transaction, the chief operating officer directly owned 181,641 shares in the company, valued at approximately $5,082,315.18. The trade was a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 12,500 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.97, for a total transaction of $349,625.00. Following the sale, the chief financial officer owned 129,855 shares in the company, valued at approximately $3,632,044.35. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,750 shares of company stock worth $1,554,800 in the last 90 days. Corporate insiders own 13.80% of the company’s stock.

Institutional Trading of Bicara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Bicara Therapeutics during the third quarter worth $63,000. Profund Advisors LLC raised its position in Bicara Therapeutics by 7.2% in the 3rd quarter. Profund Advisors LLC now owns 16,880 shares of the company’s stock valued at $314,000 after buying an additional 1,140 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Bicara Therapeutics by 15.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,074 shares of the company’s stock worth $224,000 after purchasing an additional 1,617 shares during the last quarter. Sterling Capital Management LLC boosted its position in Bicara Therapeutics by 457.0% in the third quarter. Sterling Capital Management LLC now owns 1,387 shares of the company’s stock worth $26,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Bicara Therapeutics in the second quarter worth about $499,000.

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.