Bicara Therapeutics (NASDAQ:BCAX) Shares Down 8.6% - Here's What Happened

Key Points

• Bicara Therapeutics Inc. (NASDAQ:BCAX) shares fell by 8.6%, trading as low as $17.21, with a significant decrease in trading volume of 69% compared to average daily volumes.
• Analysts provide mixed ratings on BCAX, with Wedbush maintaining an "outperform" rating and a target price of $30, while Weiss Ratings issued a "sell" rating.
• Insider activity included COO Ryan Cohlhepp selling 10,900 shares and CFO Ivan Hyep selling 6,415 shares, both resulting in a decrease in their ownership positions.

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) were down 8.6% during mid-day trading on Tuesday . The company traded as low as $17.21 and last traded at $16.92. Approximately 179,041 shares changed hands during trading, a decline of 69% from the average daily volume of 577,495 shares. The stock had previously closed at $18.51.

Wall Street Analyst Weigh In

BCAX has been the subject of a number of recent analyst reports. Wedbush reissued an "outperform" rating and set a $30.00 target price on shares of Bicara Therapeutics in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bicara Therapeutics in a research report on Tuesday. Piper Sandler began coverage on Bicara Therapeutics in a report on Monday, August 18th. They set an "overweight" rating and a $36.00 price objective on the stock. Finally, HC Wainwright dropped their price target on Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.86.

Bicara Therapeutics Price Performance

The company's fifty day simple moving average is $12.65 and its 200-day simple moving average is $11.88. The firm has a market capitalization of $955.68 million and a PE ratio of -5.52.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $0.04. Analysts forecast that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Insider Activity

In other news, COO Ryan Cohlhepp sold 10,900 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $18.06, for a total value of $196,854.00. Following the transaction, the chief operating officer owned 202,641 shares of the company's stock, valued at $3,659,696.46. This represents a 5.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ivan Hyep sold 6,415 shares of the company's stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $18.23, for a total value of $116,945.45. Following the transaction, the chief financial officer owned 145,355 shares in the company, valued at $2,649,821.65. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,300 shares of company stock valued at $1,988,108 in the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BCAX. CWM LLC acquired a new stake in shares of Bicara Therapeutics in the 1st quarter valued at approximately $29,000. Legal & General Group Plc raised its holdings in shares of Bicara Therapeutics by 64.1% in the second quarter. Legal & General Group Plc now owns 3,156 shares of the company's stock worth $29,000 after acquiring an additional 1,233 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Bicara Therapeutics by 73.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,493 shares of the company's stock worth $32,000 after buying an additional 1,474 shares during the period. Tower Research Capital LLC TRC increased its position in Bicara Therapeutics by 419.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company's stock worth $44,000 after purchasing an additional 3,866 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Bicara Therapeutics during the first quarter valued at approximately $52,000.

About Bicara Therapeutics

Bicara Therapeutics Inc, a clinical-stage biopharmaceutical company, develops bifunctional therapies for solid tumors. Its lead program is ficerafusp alfa, a bifunctional antibody that combines an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-b) for the treatment of solid tumors.

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