Bicara Therapeutics (NASDAQ:BCAX) Stock Rating Cut to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Bicara Therapeutics (NASDAQ:BCAX) from a neutral rating to a sell rating in a research note published on Friday morning, Marketbeat reports. The Goldman Sachs Group currently has $8.00 price objective on the stock, down from their prior price objective of $20.00.

Several other brokerages have also recently commented on BCAX. Morgan Stanley reiterated an “overweight” rating on shares of Bicara Therapeutics in a research note on Tuesday, October 20th. BMO Capital Markets started coverage on shares of Bicara Therapeutics in a report on Tuesday, August 18th. They set an “outperform” rating and a $35.00 price objective for the company. HSBC lowered Bicara Therapeutics to an “equal weight” rating in a research report on Tuesday, September 22nd. Wedbush reduced their target price on Bicara Therapeutics from $33.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bicara Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.91.

Bicara Therapeutics Stock Performance

BCAX stock opened at $9.13 on Friday. Bicara Therapeutics has a one year low of $8.36 and a one year high of $30.99. The company’s fifty day moving average price is $19.74 and its 200-day moving average price is $21.16. The company has a market capitalization of $604.16 million, a PE ratio of -2.95 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, research analysts predict that Bicara Therapeutics will post -3.49 EPS for the current fiscal year.

Insider Activity at Bicara Therapeutics

In related news, COO Ryan Cohlhepp sold 18,750 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.98, for a total value of $524,625.00. Following the sale, the chief operating officer owned 181,641 shares in the company, valued at approximately $5,082,315.18. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 the company’s stock in a transaction 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 58,750 shares of company stock valued at $1,554,800. 13.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Siren L.L.C. raised its position in shares of Bicara Therapeutics by 11.2% during the 1st quarter. Siren L.L.C. now owns 5,802,970 shares of the company’s stock valued at $115,421,000 after buying an additional 586,001 shares in the last quarter. BlackRock Inc. bought a new position in shares of Bicara Therapeutics in the 2nd quarter valued at about $114,250,000. Janus Henderson Group PLC lifted its holdings in shares of Bicara Therapeutics by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock valued at $66,350,000 after acquiring an additional 692,933 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of Bicara Therapeutics in the 2nd quarter valued at about $93,957,000. Finally, Orbimed Advisors LLC grew its position in Bicara Therapeutics by 219.1% in the first quarter. Orbimed Advisors LLC now owns 667,300 shares of the company’s stock worth $13,273,000 after acquiring an additional 458,200 shares in the last quarter.

About Bicara Therapeutics

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.