Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX – Get Free Report) traded up 8.6% on Thursday . The stock traded as high as $27.24 and last traded at $27.8560. 157,005 shares changed hands during trading, a decline of 71% from the average session volume of 538,355 shares. The stock had previously closed at $25.64.
Wall Street Analysts Forecast Growth
BCAX has been the subject of several research analyst reports. Guggenheim assumed coverage on Bicara Therapeutics in a research note on Monday, May 11th. They set a “buy” rating and a $42.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Wednesday, April 8th. Citizens Jmp reaffirmed a “market outperform” rating and set a $31.00 price target on shares of Bicara Therapeutics in a report on Tuesday, March 31st. Morgan Stanley increased their price objective on shares of Bicara Therapeutics from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Bicara Therapeutics in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.27.
Read Our Latest Stock Analysis on BCAX
Bicara Therapeutics Stock Up 3.0%
Bicara Therapeutics (NASDAQ:BCAX – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.21). Sell-side analysts forecast that Bicara Therapeutics Inc. will post -3.48 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Claire Mazumdar sold 15,000 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $23.61, for a total transaction of $354,150.00. Following the completion of the transaction, the chief executive officer directly owned 362,152 shares of the company’s stock, valued at $8,550,408.72. This trade represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 9,200 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.42, for a total value of $187,864.00. Following the completion of the sale, the chief financial officer owned 145,355 shares in the company, valued at $2,968,149.10. The trade was a 5.95% decrease in their ownership of the stock. 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 three months, insiders have sold 63,900 shares of company stock valued at $1,420,704. Company insiders own 13.80% of the company’s stock.
Institutional Trading of Bicara Therapeutics
Several large investors have recently made changes to their positions in BCAX. AQR Capital Management LLC bought a new position in Bicara Therapeutics in the first quarter worth approximately $248,000. Woodline Partners LP raised its position in shares of Bicara Therapeutics by 26.5% during the first quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock worth $4,543,000 after purchasing an additional 72,998 shares during the period. Geode Capital Management LLC grew its position in Bicara Therapeutics by 36.8% in the 2nd quarter. Geode Capital Management LLC now owns 672,485 shares of the company’s stock valued at $6,248,000 after purchasing an additional 180,833 shares during the period. JPMorgan Chase & Co. increased its stake in Bicara Therapeutics by 26.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,458 shares of the company’s stock valued at $255,000 after purchasing an additional 5,664 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Bicara Therapeutics by 64.1% during the second quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock worth $29,000 after buying an additional 1,233 shares during the last quarter.
Bicara Therapeutics Company Profile
Bicara Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing novel neurohormone-based therapies for psychiatric and neurological disorders. The company’s research focuses on harnessing endogenous signaling pathways in the brain, with the goal of offering new treatment options for conditions that remain inadequately addressed by existing medications. Bicara applies proprietary peptide engineering and intranasal delivery platforms to optimize central nervous system uptake and therapeutic effect.
The company’s lead candidates include PST-001, an intranasal vasopressin-1A receptor antagonist in development for postpartum depression, and PST-002, an oxytocin receptor modulator being investigated for social anxiety and autism spectrum disorder.
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