Bicara Therapeutics (NASDAQ:BCAX) Stock Falls 7% After Analyst Downgrade

Bicara Therapeutics Inc. (NASDAQ:BCAX – Get Free Report)’s share price fell 7% during mid-day trading on Monday after Wall Street Zen downgraded the stock from a sell rating to a strong sell rating. The stock traded as low as $8.54 and last traded at $8.4950. Approximately 345,399 shares were traded during trading, a decline of 52% from the average daily volume of 725,434 shares. The stock had previously closed at $9.13.

Other research analysts have also recently issued reports about the stock. HSBC cut shares of Bicara Therapeutics to an “equal weight” rating in a report on Tuesday, September 22nd. Wells Fargo & Company lifted their price target on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Benchmark reiterated a “buy” rating on shares of Bicara Therapeutics in a research note on Thursday. The Goldman Sachs Group cut Bicara Therapeutics from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $20.00 to $8.00 in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicara Therapeutics in a research note on Thursday, September 10th. Two equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bicara Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $30.91.

Get Our Latest Stock Analysis on Bicara Therapeutics

Insider Buying and Selling at Bicara Therapeutics

In related news, CFO Ivan Hyep sold 12,500 shares of Bicara Therapeutics stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $27.97, for a total value of $349,625.00. Following the completion of the transaction, the chief financial officer owned 129,855 shares in the company, valued at $3,632,044.35. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Ryan Cohlhepp sold 18,750 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 $524,625.00. Following the completion of the transaction, the chief operating officer owned 181,641 shares of the company’s stock, valued at approximately $5,082,315.18. The trade was a 9.36% 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. Insiders sold 58,750 shares of company stock valued at $1,554,800 in the last 90 days. Company insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Bicara Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Bicara Therapeutics during the third quarter worth $63,000. Profund Advisors LLC boosted its position in Bicara Therapeutics by 7.2% during the 3rd quarter. Profund Advisors LLC now owns 16,880 shares of the company’s stock valued at $314,000 after purchasing an additional 1,140 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Bicara Therapeutics by 15.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,074 shares of the company’s stock worth $224,000 after acquiring an additional 1,617 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Bicara Therapeutics by 457.0% during the third quarter. Sterling Capital Management LLC now owns 1,387 shares of the company’s stock valued at $26,000 after buying an additional 1,138 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Bicara Therapeutics during the second quarter valued at about $499,000.

Bicara Therapeutics Price Performance

The stock has a market cap of $555.70 million, a P/E ratio of -2.71 and a beta of -0.32. The company has a fifty day moving average of $19.74 and a 200 day moving average of $21.16.

Bicara Therapeutics (NASDAQ:BCAX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.82). As a group, analysts anticipate that Bicara Therapeutics Inc. will post -3.49 EPS for the current year.

Bicara Therapeutics Company Profile

(Get Free Report)

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.

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