Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 8.6% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price traded down 8.6% on Wednesday . The stock traded as low as $20.93 and last traded at $20.83. Approximately 464,432 shares changed hands during trading, a decline of 22% from the average daily volume of 595,217 shares. The stock had previously closed at $22.78.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BCAX. Mizuho increased their price target on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Wedbush lifted their price objective on shares of Bicara Therapeutics from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. HSBC downgraded shares of Bicara Therapeutics to an “equal weight” rating in a research report on Tuesday. Morgan Stanley increased their target price 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. Finally, 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 target price on the stock. Two research 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 MarketBeat.com, Bicara Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $32.64.

Bicara Therapeutics Stock Down 8.1%

The company’s 50-day moving average price is $24.98 and its 200-day moving average price is $23.28. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -6.75 and a beta of -0.82.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.82). Analysts predict that Bicara Therapeutics Inc. will post -3.51 earnings per share for the current fiscal year.

Insider Transactions at Bicara Therapeutics

In other news, CEO Claire Mazumdar sold 10,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.98, for a total transaction of $279,800.00. Following the completion of the sale, the chief executive officer owned 362,152 shares of the company’s stock, valued at $10,133,012.96. This represents a 2.69% decrease in their ownership of the stock. 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, CFO Ivan Hyep sold 12,500 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.97, for a total transaction of $349,625.00. Following the completion of the sale, the chief financial officer owned 129,855 shares of the company’s stock, valued at approximately $3,632,044.35. The trade was 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. Insiders have sold 125,500 shares of company stock valued at $3,479,986 over the last ninety days. Insiders own 13.80% of the company’s stock.

Institutional Trading of Bicara Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Siren L.L.C. grew its position in Bicara Therapeutics by 11.2% in the first quarter. Siren L.L.C. now owns 5,802,970 shares of the company’s stock worth $115,421,000 after acquiring an additional 586,001 shares during the period. BlackRock Inc. acquired a new position in shares of Bicara Therapeutics in the 2nd quarter valued at $114,250,000. Janus Henderson Group PLC grew its holdings in shares of Bicara Therapeutics by 26.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock worth $66,350,000 after purchasing an additional 692,933 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Bicara Therapeutics during the 2nd quarter worth about $93,957,000. Finally, Orbimed Advisors LLC raised its holdings in Bicara Therapeutics by 219.1% in the 1st quarter. Orbimed Advisors LLC now owns 667,300 shares of the company’s stock valued at $13,273,000 after buying an additional 458,200 shares during the period.

Bicara Therapeutics Company Profile

Bicara Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for solid tumors. The company uses a proprietary bifunctional antibody platform designed to target tumor cells while modifying the surrounding tumor microenvironment, which may help improve the activity of cancer immunotherapies.

Bicara’s lead product candidate is ficerafusp alfa, also known as BCA101. The investigational therapy is designed to block epidermal growth factor receptor (EGFR) signaling and inhibit transforming growth factor beta (TGF-β), two pathways associated with tumor growth and immune suppression.