Bicara Therapeutics (NASDAQ:BCAX) Rating Lowered to “Strong Sell” at Wall Street Zen

Bicara Therapeutics (NASDAQ:BCAX) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on BCAX. Weiss Ratings reissued a “sell (d-)” rating on shares of Bicara Therapeutics in a report on Friday, October 2nd. HSBC cut shares of Bicara Therapeutics to an “equal weight” rating in a report on Tuesday, September 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicara Therapeutics in a research report on Thursday, September 10th. BMO Capital Markets started coverage on Bicara Therapeutics in a research report on Tuesday, August 18th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, BTIG Research reissued a “buy” rating and set a $39.00 price target on shares of Bicara Therapeutics in a research report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Bicara Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $30.91.

Bicara Therapeutics Price Performance

Shares of NASDAQ:BCAX opened at $9.13 on Friday. The business has a 50-day moving average of $19.74 and a two-hundred day moving average of $21.16. Bicara Therapeutics has a fifty-two week low of $8.36 and a fifty-two week high of $30.99. The stock has a market capitalization of $604.13 million, a P/E ratio of -2.95 and a beta of -0.32.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, hitting analysts’ consensus estimates of ($0.82). As a group, research analysts expect that Bicara Therapeutics will post -3.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bicara Therapeutics news, CFO Ivan Hyep sold 12,500 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $27.97, for a total value of $349,625.00. Following the completion of the sale, the chief financial officer owned 129,855 shares in the company, valued at $3,632,044.35. This represents a 8.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Claire Mazumdar sold 10,000 shares of Bicara Therapeutics stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.98, for a total value of $279,800.00. Following the transaction, the chief executive officer directly owned 362,152 shares of the company’s stock, valued at approximately $10,133,012.96. The trade was a 2.69% 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. In the last quarter, insiders have sold 58,750 shares of company stock worth $1,554,800. Company insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BCAX. Sterling Capital Management LLC raised its position in shares of Bicara Therapeutics by 457.0% in the 3rd 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. Mirae Asset Global Investments Co. Ltd. acquired a new position in Bicara Therapeutics during the third quarter valued at $63,000. 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 valued at $224,000 after acquiring an additional 1,617 shares in the last quarter. Arizona State Retirement System purchased a new position in Bicara Therapeutics during the 2nd quarter valued at about $241,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Bicara Therapeutics during the second quarter worth about $272,000.

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.