Brokerages Set Bicara Therapeutics Inc. (NASDAQ:BCAX) PT at $32.64

Bicara Therapeutics Inc. (NASDAQ:BCAX) has received an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $32.6364.

A number of equities research analysts recently commented on the stock. BMO Capital Markets started 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. Wells Fargo & Company boosted their target price on Bicara Therapeutics from $16.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicara Therapeutics in a research report on Thursday, September 10th. Mizuho increased their target price on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Bicara Therapeutics in a report on Friday, August 21st.

Bicara Therapeutics Stock Performance

Shares of NASDAQ:BCAX opened at $22.64 on Friday. The company has a market capitalization of $1.50 billion, a P/E ratio of -7.30 and a beta of -0.82. The company’s 50-day moving average is $25.21 and its 200 day moving average is $23.18. Bicara Therapeutics has a fifty-two week low of $10.30 and a fifty-two week high of $30.99.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, hitting the consensus estimate of ($0.82). As a group, research analysts predict that Bicara Therapeutics will post -3.51 earnings per share for the current year.

Insiders Place Their Bets

In other Bicara Therapeutics news, CFO Ivan Hyep sold 12,500 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.97, for a total transaction of $349,625.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Cohlhepp sold 17,500 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $22.90, for a total value of $400,750.00. Following the completion of the transaction, the chief executive officer directly owned 181,641 shares of the company’s stock, valued at $4,159,578.90. The trade was a 8.79% decrease in their ownership of the stock. 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 a total of 125,500 shares of company stock worth $3,479,986 over the last 90 days. Corporate insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Bicara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of BCAX. Caitong International Asset Management Co. Ltd boosted its position in shares of Bicara Therapeutics by 385.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,775 shares of the company’s stock valued at $97,000 after acquiring an additional 4,585 shares during the period. Letko Brosseau & Associates Inc. bought a new stake in Bicara Therapeutics during the 4th quarter worth approximately $188,000. Arizona State Retirement System purchased a new stake in Bicara Therapeutics in the 2nd quarter worth approximately $241,000. Susquehanna Fundamental Investments LLC purchased a new stake in Bicara Therapeutics in the 2nd quarter worth approximately $272,000. Finally, Quantinno Capital Management LP boosted its holdings in Bicara Therapeutics by 16.1% in the 1st quarter. Quantinno Capital Management LP now owns 17,612 shares of the company’s stock valued at $350,000 after purchasing an additional 2,447 shares during the period.

About Bicara Therapeutics

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.