Bicara Therapeutics (NASDAQ:BCAX) Sees Unusually-High Trading Volume – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX) saw unusually-high trading volume on Friday. Approximately 778,557 shares were traded during trading, an increase of 10% from the average daily volume of 710,788 shares. The stock last traded at $8.5920 and had previously closed at $9.73.

Analyst Upgrades and Downgrades

BCAX has been the topic of a number of research reports. BTIG Research reissued a “buy” rating and issued a $39.00 target price on shares of Bicara Therapeutics in a research note on Monday, October 19th. Benchmark reissued a “buy” rating on shares of Bicara Therapeutics in a report on Thursday. Morgan Stanley restated an “overweight” rating on shares of Bicara Therapeutics in a report on Tuesday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Friday, October 2nd. Finally, Wedbush decreased their price objective on shares of Bicara Therapeutics from $33.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Bicara Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $30.91.

Bicara Therapeutics Stock Performance

The stock has a market cap of $574.16 million, a P/E ratio of -2.80 and a beta of -0.70. The stock’s fifty day simple moving average is $20.04 and its 200-day simple moving average is $21.20.

Bicara Therapeutics (NASDAQ:BCAX) last announced its earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.82). As a group, equities research analysts forecast that Bicara Therapeutics Inc. will post -3.49 earnings per share for the current year.

Insider Activity at Bicara Therapeutics

In other news, CFO Ivan Hyep sold 12,500 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.97, for a total value of $349,625.00. Following the completion of the transaction, the chief financial officer owned 129,855 shares in the company, valued at $3,632,044.35. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Cohlhepp sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $22.90, for a total transaction of $400,750.00. Following the completion of the transaction, the chief executive officer owned 181,641 shares of the company’s stock, valued at approximately $4,159,578.90. The trade was a 8.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,750 shares of company stock worth $1,554,800 in the last ninety days. 13.80% of the stock is owned by company insiders.

Institutional Trading of Bicara Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its holdings in Bicara Therapeutics by 457.0% during the third quarter. Sterling Capital Management LLC now owns 1,387 shares of the company’s stock worth $26,000 after acquiring an additional 1,138 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at approximately $63,000. Arizona State Retirement System purchased a new stake in shares of Bicara Therapeutics during the second quarter worth $241,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Bicara Therapeutics during the second quarter worth $272,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Bicara Therapeutics by 15.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,074 shares of the company’s stock worth $224,000 after buying an additional 1,617 shares during 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.