Bicara Therapeutics (NASDAQ:BCAX) Announces Quarterly Earnings Results

Bicara Therapeutics (NASDAQ:BCAX) announced its earnings results on Monday. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.12), Zacks reports.

Bicara Therapeutics Stock Up 5.7%

NASDAQ BCAX traded up $0.80 during mid-day trading on Tuesday, hitting $14.73. The stock had a trading volume of 914,969 shares, compared to its average volume of 600,651. The company has a 50 day simple moving average of $14.69 and a 200 day simple moving average of $12.53. The company has a market cap of $804.41 million, a price-to-earnings ratio of -4.65 and a beta of -0.76. Bicara Therapeutics has a 52-week low of $7.80 and a 52-week high of $24.15.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BCAX shares. Wells Fargo & Company boosted their target price on Bicara Therapeutics from $8.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Bicara Therapeutics in a research note on Monday. HC Wainwright cut their price objective on shares of Bicara Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bicara Therapeutics in a report on Tuesday, October 14th. Finally, Piper Sandler assumed coverage on shares of Bicara Therapeutics in a research note on Monday, August 18th. They set an “overweight” rating and a $36.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bicara Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $29.67.

Insider Transactions at Bicara Therapeutics

In other Bicara Therapeutics news, COO Ryan Cohlhepp sold 39,600 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $18.06, for a total value of $715,176.00. Following the sale, the chief operating officer owned 205,541 shares of the company’s stock, valued at $3,712,070.46. This represents a 16.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Claire Mazumdar sold 13,289 shares of Bicara Therapeutics stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $18.84, for a total value of $250,364.76. Following the transaction, the chief executive officer owned 309,892 shares of the company’s stock, valued at $5,838,365.28. This represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 146,534 shares of company stock worth $2,682,012.

Hedge Funds Weigh In On Bicara Therapeutics

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in shares of Bicara Therapeutics by 64.1% during the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock worth $29,000 after purchasing an additional 1,233 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Bicara Therapeutics by 13.2% during the second quarter. Invesco Ltd. now owns 16,877 shares of the company’s stock valued at $157,000 after buying an additional 1,962 shares during the period. Tower Research Capital LLC TRC boosted its position in Bicara Therapeutics by 419.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company’s stock worth $44,000 after acquiring an additional 3,866 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Bicara Therapeutics by 26.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,458 shares of the company’s stock worth $255,000 after acquiring an additional 5,664 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Bicara Therapeutics by 64.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,729 shares of the company’s stock valued at $174,000 after acquiring an additional 7,354 shares during the last quarter.

About Bicara Therapeutics

Bicara Therapeutics Inc, a clinical-stage biopharmaceutical company, develops bifunctional therapies for solid tumors. Its lead program is ficerafusp alfa, a bifunctional antibody that combines an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-b) for the treatment of solid tumors.