Bicara Therapeutics (NASDAQ:BCAX) Trading Up 9.5% – Still a Buy?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) traded up 9.5% during trading on Thursday . The company traded as high as $17.01 and last traded at $16.6240. 217,068 shares changed hands during trading, a decline of 64% from the average session volume of 596,575 shares. The stock had previously closed at $15.18.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BCAX shares. Wells Fargo & Company upped their target price on Bicara Therapeutics from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Piper Sandler initiated coverage on Bicara Therapeutics in a report on Monday, August 18th. They issued an “overweight” rating and a $36.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $30.00 target price on shares of Bicara Therapeutics in a report on Monday, November 10th. HC Wainwright dropped their price target on shares of Bicara Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.67.

Bicara Therapeutics Stock Up 5.3%

The company has a 50-day moving average price of $15.09 and a 200 day moving average price of $12.56. The firm has a market cap of $875.38 million, a price-to-earnings ratio of -7.13 and a beta of -0.76.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.12). Equities analysts forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Insider Activity at Bicara Therapeutics

In related news, CEO Claire Mazumdar sold 13,289 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $18.84, for a total transaction of $250,364.76. Following the transaction, the chief executive officer owned 309,892 shares of the company’s stock, valued at approximately $5,838,365.28. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ivan Hyep sold 18,244 shares of Bicara Therapeutics stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $18.22, for a total transaction of $332,405.68. Following the completion of the sale, the chief financial officer directly owned 145,355 shares of the company’s stock, valued at approximately $2,648,368.10. The trade was a 11.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 146,534 shares of company stock valued at $2,682,012. Insiders own 15.50% of the company’s stock.

Institutional Trading of Bicara Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC acquired a new stake in Bicara Therapeutics in the 1st quarter valued at approximately $29,000. Legal & General Group Plc grew its stake in shares of Bicara Therapeutics by 64.1% in the second quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock worth $29,000 after acquiring an additional 1,233 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Bicara Therapeutics by 73.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,493 shares of the company’s stock worth $32,000 after acquiring an additional 1,474 shares during the period. Tower Research Capital LLC TRC increased 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 period. Finally, New York State Common Retirement Fund acquired a new position in Bicara Therapeutics during the 1st quarter valued at $52,000.

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.