Bicara Therapeutics (NASDAQ:BCAX) Stock Rating Reaffirmed as “Buy” by BTIG Research

Bicara Therapeutics (NASDAQ:BCAX)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a report issued on Monday, Benzinga reports. They currently have a $39.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 112.53% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on BCAX. Morgan Stanley boosted their price target on shares of Bicara Therapeutics from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Wells Fargo & Company increased their price objective on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. BMO Capital Markets started coverage on shares of Bicara Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Finally, HSBC cut shares of Bicara Therapeutics to an “equal weight” rating in a research note on Tuesday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bicara Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.82.

Bicara Therapeutics Price Performance

Shares of NASDAQ:BCAX opened at $18.35 on Monday. Bicara Therapeutics has a 1-year low of $13.70 and a 1-year high of $30.99. The business has a 50-day moving average price of $21.34 and a two-hundred day moving average price of $23.12.

Bicara Therapeutics (NASDAQ:BCAX) last released 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 anticipate that Bicara Therapeutics will post -3.49 earnings per share for the current year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, CEO Claire Mazumdar sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.98, for a total transaction of $279,800.00. Following the transaction, the chief executive officer owned 362,152 shares in the company, valued at approximately $10,133,012.96. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 dated Monday, August 10th. The stock was sold at an average price of $27.97, for a total value of $349,625.00. Following the transaction, the chief financial officer owned 129,855 shares in the company, valued at approximately $3,632,044.35. This trade represents a 8.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 58,750 shares of company stock worth $1,554,800. 13.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC acquired a new stake in Bicara Therapeutics in the second quarter worth $93,957,000. Palo Alto Investors LP bought a new position in shares of Bicara Therapeutics during the second quarter worth $16,341,614. Bank of America Corp DE bought a new position in shares of Bicara Therapeutics during the second quarter worth $10,478,000. Walleye Capital LLC bought a new position in shares of Bicara Therapeutics during the second quarter worth $10,487,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 68,327 shares in the last quarter.

About Bicara Therapeutics

Bicara Therapeutics Inc (NASDAQ: BCAX) is a clinical-stage biotechnology company focused on developing therapies for solid tumors. The company’s approach is designed to address both cancer cells and the tumor microenvironment, which can suppress immune responses and limit the effectiveness of existing treatments.

Bicara’s lead product candidate is ficerafusp alfa, also known as BCA101. It is an investigational bifunctional fusion protein designed to target the epidermal growth factor receptor (EGFR) on tumor cells while blocking transforming growth factor beta (TGF-β), a signaling pathway associated with tumor growth and immune suppression.