Bicara Therapeutics (NASDAQ:BCAX) Sets New 52-Week Low – Time to Sell?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) hit a new 52-week low on Wednesday. The company traded as low as $8.90 and last traded at $9.98, with a volume of 8,238,482 shares changing hands. The stock had previously closed at $17.48.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BCAX. Cantor Fitzgerald restated an “overweight” rating on shares of Bicara Therapeutics in a research report on Thursday, September 10th. The Goldman Sachs Group lowered Bicara Therapeutics from a “neutral” rating to a “sell” rating and set a $8.00 price objective for the company. in a report on Friday. HSBC downgraded shares of Bicara Therapeutics to an “equal weight” rating in a report on Tuesday, September 22nd. Wedbush cut their price objective on Bicara Therapeutics from $33.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.91.

Bicara Therapeutics Price Performance

The stock has a 50 day simple moving average of $20.04 and a 200-day simple moving average of $21.20. The firm has a market cap of $571.77 million, a PE ratio of -2.79 and a beta of -0.70.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share for the quarter, hitting the consensus estimate of ($0.82). As a group, equities analysts predict that Bicara Therapeutics Inc. will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Claire Mazumdar sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 362,152 shares in the company, valued at $10,133,012.96. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a 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 stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $22.90, for a total transaction of $400,750.00. Following the completion of the transaction, the chief executive officer owned 181,641 shares in the company, valued at $4,159,578.90. This trade represents a 8.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 58,750 shares of company stock worth $1,554,800. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Bicara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC bought a new stake in Bicara Therapeutics during the 2nd quarter worth approximately $93,957,000. Bank of America Corp DE purchased a new stake in shares of Bicara Therapeutics in the second quarter worth $10,478,000. Palo Alto Investors LP bought a new stake in shares of Bicara Therapeutics during the 2nd quarter valued at $16,341,614. Walleye Capital LLC bought a new stake in shares of Bicara Therapeutics during the 2nd quarter valued at $10,487,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bicara Therapeutics by 166.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 109,261 shares of the company’s stock valued at $2,170,000 after buying an additional 68,327 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-?), a signaling protein that can contribute to tumor growth and immune suppression.