Bicara Therapeutics (NASDAQ:BCAX) Sets New 1-Year High – Here’s Why

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.74 and last traded at $30.65, with a volume of 482730 shares. The stock had previously closed at $29.22.

Analyst Ratings Changes

BCAX has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicara Therapeutics in a research note on Wednesday, May 27th. Wall Street Zen raised Bicara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Morgan Stanley raised their price target on Bicara Therapeutics from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Guggenheim started coverage on shares of Bicara Therapeutics in a research note on Monday, May 11th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.27.

Bicara Therapeutics Stock Up 2.2%

The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -10.75 and a beta of -0.81. The stock’s 50 day moving average is $22.83 and its 200 day moving average is $19.78.

Bicara Therapeutics (NASDAQ:BCAX) last released its earnings results on Monday, May 11th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.21). Analysts anticipate that Bicara Therapeutics Inc. will post -3.48 earnings per share for the current fiscal year.

Insider Transactions at Bicara Therapeutics

In other news, CEO Claire Mazumdar sold 15,000 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $23.61, for a total value of $354,150.00. Following the completion of the sale, the chief executive officer owned 362,152 shares in the company, valued at $8,550,408.72. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 9,200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.42, for a total value of $187,864.00. Following the transaction, the chief financial officer directly owned 145,355 shares of the company’s stock, valued at $2,968,149.10. This represents a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 63,900 shares of company stock worth $1,420,704 over the last 90 days. 13.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bicara Therapeutics

Several large investors have recently made changes to their positions in the business. Deutsche Bank AG raised its holdings in shares of Bicara Therapeutics by 0.9% in the 4th quarter. Deutsche Bank AG now owns 128,626 shares of the company’s stock worth $2,165,000 after purchasing an additional 1,171 shares in the last quarter. Legal & General Group Plc lifted its stake in Bicara Therapeutics by 64.1% during the second quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock valued at $29,000 after purchasing an additional 1,233 shares during the last quarter. Mariner LLC boosted its holdings in Bicara Therapeutics by 3.0% during the fourth quarter. Mariner LLC now owns 64,562 shares of the company’s stock worth $1,087,000 after buying an additional 1,902 shares in the last quarter. Invesco Ltd. boosted its holdings in Bicara Therapeutics by 13.2% during the second quarter. Invesco Ltd. now owns 16,877 shares of the company’s stock worth $157,000 after buying an additional 1,962 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Bicara Therapeutics by 16.1% in the first quarter. Quantinno Capital Management LP now owns 17,612 shares of the company’s stock worth $350,000 after buying an additional 2,447 shares during the last quarter.

About Bicara Therapeutics

Bicara Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing novel neurohormone-based therapies for psychiatric and neurological disorders. The company’s research focuses on harnessing endogenous signaling pathways in the brain, with the goal of offering new treatment options for conditions that remain inadequately addressed by existing medications. Bicara applies proprietary peptide engineering and intranasal delivery platforms to optimize central nervous system uptake and therapeutic effect.

The company’s lead candidates include PST-001, an intranasal vasopressin-1A receptor antagonist in development for postpartum depression, and PST-002, an oxytocin receptor modulator being investigated for social anxiety and autism spectrum disorder.