Bicara Therapeutics Inc. (NASDAQ:BCAX – Get Free Report) shares traded up 14.9% on Monday. The company traded as high as $9.75 and last traded at $9.9370. Approximately 898,956 shares traded hands during trading, an increase of 20% from the average session volume of 748,023 shares. The stock had previously closed at $8.65.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on BCAX shares. The Goldman Sachs Group lowered shares of Bicara Therapeutics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $20.00 to $8.00 in a report on Friday, October 30th. BMO Capital Markets assumed 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. Morgan Stanley reiterated an “overweight” rating on shares of Bicara Therapeutics in a research report on Tuesday, October 20th. Wells Fargo & Company upped their target price on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Benchmark reissued a “buy” rating on shares of Bicara Therapeutics in a research report on Thursday, October 29th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.91.
Read Our Latest Analysis on Bicara Therapeutics
Bicara Therapeutics Stock Up 13.9%
The business has a 50-day simple moving average of $18.16 and a two-hundred day simple moving average of $20.95. The stock has a market capitalization of $651.80 million, a P/E ratio of -3.19 and a beta of -0.33.
Bicara Therapeutics (NASDAQ:BCAX – Get Free Report) last released its quarterly earnings data on Monday, November 9th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.22). On average, sell-side analysts forecast that Bicara Therapeutics Inc. will post -3.49 earnings per share for the current year.
Insider Transactions at Bicara Therapeutics
In related news, CEO Ryan Cohlhepp sold 17,500 shares of Bicara Therapeutics stock in a transaction dated Tuesday, September 8th. The shares were 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 directly owned 181,641 shares of the company’s stock, valued at $4,159,578.90. This trade represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.80% of the stock is owned by corporate insiders.
Institutional Trading of Bicara Therapeutics
Several hedge funds have recently modified their holdings of BCAX. Russell Investments Group Ltd. grew its holdings in shares of Bicara Therapeutics by 33.3% during the third quarter. Russell Investments Group Ltd. now owns 44,425 shares of the company’s stock worth $827,000 after purchasing an additional 11,086 shares during the last quarter. Nan Fung Trinity HK Ltd. increased its stake in shares of Bicara Therapeutics by 49.9% in the third quarter. Nan Fung Trinity HK Ltd. now owns 427,885 shares of the company’s stock valued at $7,963,000 after buying an additional 142,390 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Bicara Therapeutics by 32.5% in the third quarter. Alps Advisors Inc. now owns 87,692 shares of the company’s stock valued at $1,632,000 after buying an additional 21,510 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Bicara Therapeutics in the third quarter valued at about $63,000. Finally, Profund Advisors LLC raised its holdings in shares of Bicara Therapeutics by 7.2% in the third quarter. Profund Advisors LLC now owns 16,880 shares of the company’s stock valued at $314,000 after buying an additional 1,140 shares during 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.
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