Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 14.9% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) was up 14.9% on Monday. The company traded as high as $9.75 and last traded at $9.9370. 898,956 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 748,023 shares. The stock had previously closed at $8.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Bicara Therapeutics in a research report on Tuesday, October 20th. BMO Capital Markets began coverage on shares of Bicara Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $35.00 price target for the company. Mizuho boosted their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. HSBC downgraded Bicara Therapeutics to an “equal weight” rating in a report on Tuesday, September 22nd. Finally, The Goldman Sachs Group lowered Bicara Therapeutics from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $20.00 to $8.00 in a research report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. 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 Price Performance

The business’s 50-day moving average price is $18.16 and its two-hundred day moving average price is $20.95. The company has a market capitalization of $651.80 million, a P/E ratio of -3.19 and a beta of -0.33.

Bicara Therapeutics (NASDAQ:BCAX) last announced its earnings results on Monday, November 9th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.22). Research analysts expect that Bicara Therapeutics Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Transactions at Bicara Therapeutics

In other Bicara Therapeutics news, CEO Ryan Cohlhepp sold 17,500 shares of Bicara Therapeutics stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $22.90, for a total value of $400,750.00. Following the sale, the chief executive officer owned 181,641 shares of the company’s stock, valued at $4,159,578.90. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Bicara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 stake in shares of Bicara Therapeutics in the second quarter valued at about $10,478,000. Palo Alto Investors LP acquired a new stake in shares of Bicara Therapeutics in the second quarter valued at about $16,341,614. Walleye Capital LLC acquired a new stake in shares of Bicara Therapeutics in the second quarter valued at about $10,487,000. Finally, Dimensional Fund Advisors LP raised its holdings in Bicara Therapeutics by 166.9% during the first quarter. Dimensional Fund Advisors LP now owns 109,261 shares of the company’s stock worth $2,170,000 after acquiring an additional 68,327 shares in the last quarter.

About Bicara Therapeutics

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.