Bicara Therapeutics (NASDAQ:BCAX) Stock Keeps Buy Rating at BTIG Research

BTIG Research reissued their buy rating on shares of Bicara Therapeutics (NASDAQ:BCAX) in a report published on Monday,Benzinga reports. They currently have a $39.00 price objective on the stock.

Several other research firms also recently commented on BCAX. Citigroup reissued a “market outperform” rating on shares of Bicara Therapeutics in a research report on Friday, August 21st. Morgan Stanley raised their price target on shares of Bicara Therapeutics from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Mizuho raised their price target on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. BMO Capital Markets started coverage on shares of Bicara Therapeutics in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicara Therapeutics in a report on Thursday, September 10th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, Bicara Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $32.64.

Bicara Therapeutics Price Performance

Shares of NASDAQ BCAX opened at $17.47 on Monday. The business has a 50 day simple moving average of $21.45 and a 200 day simple moving average of $23.13. Bicara Therapeutics has a 52 week low of $13.70 and a 52 week high of $30.99.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, hitting analysts’ consensus estimates of ($0.82). Equities analysts expect that Bicara Therapeutics will post -3.49 earnings per share for the current year.

Insider Activity

In related news, CEO Claire Mazumdar sold 10,000 shares of the business’s 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 in the company, valued at approximately $10,133,012.96. The trade was a 2.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.97, for a total value of $349,625.00. Following the sale, the chief financial officer directly owned 129,855 shares of the company’s stock, valued at $3,632,044.35. The trade was a 8.78% 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. In the last quarter, insiders have sold 58,750 shares of company stock valued at $1,554,800. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Bicara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC acquired a new position in Bicara Therapeutics in the 2nd quarter valued at $93,957,000. Palo Alto Investors LP bought a new position in Bicara Therapeutics in the 2nd quarter worth $16,341,614. Bank of America Corp DE acquired a new position in Bicara Therapeutics during the 2nd quarter worth $10,478,000. Walleye Capital LLC acquired a new position in Bicara Therapeutics during the 2nd quarter worth $10,487,000. Finally, Dimensional Fund Advisors LP lifted its position in Bicara Therapeutics by 166.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 109,261 shares of the company’s stock worth $2,170,000 after acquiring an additional 68,327 shares during the last quarter.

About Bicara Therapeutics

Bicara Therapeutics Inc (NASDAQ: BCAX) is a clinical-stage biotechnology company focused on developing therapies for solid tumors. The company’s approach is designed to address both cancer cells and the tumor microenvironment, which can suppress immune responses and limit the effectiveness of existing treatments.

Bicara’s lead product candidate is ficerafusp alfa, also known as BCA101. It is an investigational bifunctional fusion protein designed to target the epidermal growth factor receptor (EGFR) on tumor cells while blocking transforming growth factor beta (TGF-β), a signaling pathway associated with tumor growth and immune suppression.