Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 12.7% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares shot up 12.7% during trading on Tuesday. The company traded as high as $8.72 and last traded at $8.9340. 121,931 shares traded hands during trading, a decline of 83% from the average session volume of 732,956 shares. The stock had previously closed at $7.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Bicara Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. BMO Capital Markets assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Wedbush decreased their price objective on shares of Bicara Therapeutics from $33.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Bicara Therapeutics in a report on Thursday, September 10th. Finally, Benchmark restated a “buy” rating on shares of Bicara Therapeutics in a report on Thursday, October 29th. Two investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.91.

Bicara Therapeutics Price Performance

The business has a 50 day moving average price of $19.42 and a 200 day moving average price of $21.11. The stock has a market capitalization of $617.06 million, a PE ratio of -3.01 and a beta of -0.70.

Bicara Therapeutics (NASDAQ:BCAX) last issued its earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.82). On average, equities analysts expect that Bicara Therapeutics Inc. will post -3.49 earnings per share for the current year.

Insider Transactions at Bicara Therapeutics

In other news, COO Ryan Cohlhepp sold 18,750 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 value of $524,625.00. Following the transaction, the chief operating officer owned 181,641 shares of the company’s stock, valued at $5,082,315.18. This trade represents a 9.36% 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, CEO Claire Mazumdar sold 10,000 shares of Bicara Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 362,152 shares in the company, valued at $10,133,012.96. This represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,750 shares of company stock worth $1,554,800 in the last quarter. Company insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Bicara Therapeutics

Hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC raised its stake in Bicara Therapeutics by 457.0% during the 3rd quarter. Sterling Capital Management LLC now owns 1,387 shares of the company’s stock valued at $26,000 after purchasing an additional 1,138 shares during the period. Profund Advisors LLC grew its holdings in Bicara Therapeutics by 7.2% during the 3rd quarter. Profund Advisors LLC now owns 16,880 shares of the company’s stock valued at $314,000 after buying an additional 1,140 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Bicara Therapeutics by 15.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,074 shares of the company’s stock valued at $224,000 after buying an additional 1,617 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Bicara Therapeutics by 16.1% during the first quarter. Quantinno Capital Management LP now owns 17,612 shares of the company’s stock worth $350,000 after acquiring an additional 2,447 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Bicara Therapeutics during the third quarter valued at $63,000.

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.