Bicara Therapeutics (NASDAQ:BCAX) Stock Gets Downgrade from The Goldman Sachs Group

Key Points

• Goldman Sachs downgraded Bicara Therapeutics to “sell” from “neutral” and set an $8 price target, implying 17.78% downside from the prior close.
• Despite the downgrade, analysts’ overall view remains a “Moderate Buy”, with 12 Buy or Strong Buy ratings and an average price target of $30.91.
• BCAX opened at $9.73, near its 52-week low of $8.90, while company insiders sold 58,750 shares worth $1.55 million over the past 90 days; institutional investors have also made substantial purchases.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) was downgraded by The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a research report issued on Friday, Marketbeat reports. They currently have a $8.00 target price on the stock. The Goldman Sachs Group's price objective points to a potential downside of 17.78% from the stock's previous close.

Several other research analysts have also recently issued reports on BCAX. HSBC cut shares of Bicara Therapeutics to an "equal weight" rating in a report on Tuesday, September 22nd. Cantor Fitzgerald restated an "overweight" rating on shares of Bicara Therapeutics in a research note on Thursday, September 10th. BTIG Research reiterated a "buy" rating and set a $39.00 price target on shares of Bicara Therapeutics in a research report on Monday, October 19th. Wedbush dropped their target price on Bicara Therapeutics from $33.00 to $24.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Benchmark reaffirmed a "buy" rating on shares of Bicara Therapeutics in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Bicara Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $30.91.

Bicara Therapeutics Stock Performance

NASDAQ:BCAX opened at $9.73 on Friday. The stock's fifty day moving average is $20.04 and its 200 day moving average is $21.20. Bicara Therapeutics has a fifty-two week low of $8.90 and a fifty-two week high of $30.99.

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

Insider Transactions at Bicara Therapeutics

In other news, COO Ryan Cohlhepp sold 18,750 shares of Bicara Therapeutics stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.98, for a total value of $524,625.00. Following the completion of the sale, the chief operating officer directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Claire Mazumdar sold 10,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.98, for a total transaction of $279,800.00. Following the sale, the chief executive officer directly owned 362,152 shares in the company, valued at $10,133,012.96. This represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 58,750 shares of company stock worth $1,554,800 over the last ninety days. Company insiders own 13.80% of the company's stock.

Institutional Trading of Bicara Therapeutics

A number of institutional investors have recently bought and sold shares of BCAX. Siren L.L.C. grew its position in shares of Bicara Therapeutics by 11.2% in the 1st quarter. Siren L.L.C. now owns 5,802,970 shares of the company's stock valued at $115,421,000 after buying an additional 586,001 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Bicara Therapeutics in the 2nd quarter valued at approximately $114,250,000. Janus Henderson Group PLC increased its holdings in shares of Bicara Therapeutics by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company's stock valued at $66,350,000 after purchasing an additional 692,933 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of Bicara Therapeutics during the 2nd quarter valued at approximately $93,957,000. Finally, Orbimed Advisors LLC grew its holdings in Bicara Therapeutics by 219.1% in the first quarter. Orbimed Advisors LLC now owns 667,300 shares of the company's stock valued at $13,273,000 after purchasing an additional 458,200 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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