Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 3.9% – Still a Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX) rose 3.9% during mid-day trading on Wednesday . The stock traded as high as $16.79 and last traded at $16.7450. Approximately 102,086 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 607,748 shares. The stock had previously closed at $16.12.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BCAX shares. Mizuho upgraded Bicara Therapeutics to a “hold” rating in a report on Thursday, December 18th. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Bicara Therapeutics in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Bicara Therapeutics from $8.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.00.

Bicara Therapeutics Stock Up 2.7%

The business’s 50 day moving average is $16.94 and its 200 day moving average is $13.75. The company has a market cap of $906.64 million, a P/E ratio of -7.39 and a beta of -0.87.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.12). As a group, equities research analysts forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Insider Activity

In related news, COO Ryan Cohlhepp sold 39,600 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $18.06, for a total value of $715,176.00. Following the completion of the transaction, the chief operating officer directly owned 205,541 shares of the company’s stock, valued at $3,712,070.46. This trade represents a 16.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Raben sold 22,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $18.45, for a total transaction of $405,900.00. Following the transaction, the insider owned 35,497 shares in the company, valued at $654,919.65. The trade was a 38.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 236,597 shares of company stock valued at $4,360,025 over the last three months.

Hedge Funds Weigh In On Bicara Therapeutics

Several hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Bicara Therapeutics during the 1st quarter worth about $326,000. Vestal Point Capital LP raised its stake in shares of Bicara Therapeutics by 290.0% in the first quarter. Vestal Point Capital LP now owns 2,768,975 shares of the company’s stock worth $36,080,000 after purchasing an additional 2,058,975 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Bicara Therapeutics in the first quarter valued at approximately $248,000. Woodline Partners LP increased its holdings in Bicara Therapeutics by 26.5% in the 1st quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock worth $4,543,000 after buying an additional 72,998 shares during the period. Finally, Rhumbline Advisers raised its position in Bicara Therapeutics by 21.1% during the 1st quarter. Rhumbline Advisers now owns 23,018 shares of the company’s stock worth $300,000 after buying an additional 4,010 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.