Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 8.6% – Should You Sell?

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

Analyst Ratings Changes

Several research firms have recently issued reports on BCAX. Mizuho upped their price target on Bicara Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Monday, July 6th. Wells Fargo & Company raised their price objective 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. Wedbush boosted their target price on Bicara Therapeutics from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, HSBC cut Bicara Therapeutics to an “equal weight” rating in a research report on Tuesday. Two equities 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.64.

Bicara Therapeutics Stock Performance

The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -6.31 and a beta of -0.82. The stock’s 50-day simple moving average is $24.67 and its two-hundred day simple moving average is $23.30.

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

Insider Buying and Selling at Bicara Therapeutics

In other news, CEO Claire Mazumdar sold 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.98, for a total value of $279,800.00. Following the completion of the sale, the chief executive officer directly owned 362,152 shares of the company’s stock, valued at approximately $10,133,012.96. This represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 that occurred on Monday, August 10th. The shares were sold at an average price of $27.97, for a total value of $349,625.00. Following the completion of the sale, the chief financial officer directly owned 129,855 shares of the company’s stock, valued at $3,632,044.35. This represents a 8.78% decrease in their ownership of the stock. 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 125,500 shares of company stock valued at $3,479,986 in the last 90 days. 13.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Siren L.L.C. boosted its holdings in Bicara Therapeutics by 11.2% in the 1st quarter. Siren L.L.C. now owns 5,802,970 shares of the company’s stock valued at $115,421,000 after purchasing an additional 586,001 shares during the period. BlackRock Inc. bought a new position in shares of Bicara Therapeutics during the 2nd quarter worth about $114,250,000. Jupiter Topco LLC bought a new position in shares of Bicara Therapeutics during the 2nd quarter worth about $93,957,000. Janus Henderson Group PLC raised its position in shares of Bicara Therapeutics by 26.2% during the first quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock valued at $66,350,000 after buying an additional 692,933 shares during the last quarter. Finally, Palo Alto Investors LP acquired a new position in shares of Bicara Therapeutics during the second quarter valued at about $16,341,614.

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.