Bicara Therapeutics (NASDAQ:BCAX) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bicara Therapeutics from “sell” to “strong sell,” although the broader analyst consensus remains “moderate buy” with an average price target of $30.91.
• BCAX shares opened at $9.13, near their 52-week low of $8.36 and well below the 50-day and 200-day moving averages of $19.74 and $21.16, respectively.
• Company insiders sold 58,750 shares worth approximately $1.55 million during the latest quarter under pre-arranged trading plans, while institutional investors including BlackRock and Jupiter Topco established or increased positions.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other brokerages have also issued reports on BCAX. Citigroup restated a "market outperform" rating on shares of Bicara Therapeutics in a report on Friday, August 21st. HSBC lowered shares of Bicara Therapeutics to an "equal weight" rating in a research note on Tuesday, September 22nd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Bicara Therapeutics in a research report on Thursday, September 10th. Wells Fargo & Company boosted their price target 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, BTIG Research reissued a "buy" rating and issued a $39.00 price target on shares of Bicara Therapeutics in a research note on Monday, October 19th. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.91.

Bicara Therapeutics Stock Performance

Shares of Bicara Therapeutics stock opened at $9.13 on Friday. The stock has a 50 day moving average of $19.74 and a 200 day moving average of $21.16. The firm has a market capitalization of $604.16 million, a price-to-earnings ratio of -2.95 and a beta of -0.70. Bicara Therapeutics has a fifty-two week low of $8.36 and a fifty-two week high of $30.99.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, meeting analysts' consensus estimates of ($0.82). Analysts forecast that Bicara Therapeutics will post -3.49 EPS for the current year.

Insider Activity 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 approximately $3,632,044.35. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 company's stock in a transaction that occurred on 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 approximately $10,133,012.96. The trade was a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 58,750 shares of company stock worth $1,554,800. Corporate insiders own 13.80% of the company's stock.

Hedge Funds Weigh In On Bicara Therapeutics

Several institutional investors have recently modified their holdings of the business. Siren L.L.C. raised its position in 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 purchasing an additional 586,001 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Bicara Therapeutics in the 2nd quarter valued at about $114,250,000. Jupiter Topco LLC acquired a new position in shares of Bicara Therapeutics during the second quarter worth about $93,957,000. Janus Henderson Group PLC grew its position in shares of Bicara Therapeutics by 26.2% during the first quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company's stock worth $66,350,000 after buying an additional 692,933 shares in the last quarter. Finally, Palo Alto Investors LP acquired a new position in shares of Bicara Therapeutics during the second quarter worth about $16,341,614.

Bicara Therapeutics Company Profile

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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