Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down - Here's Why

Key Points

• Bicara Therapeutics shares fell 10%, opening at $22.80 versus a prior close of $27.73, before recovering to about $24.94. The company has a $1.64 billion market capitalization and recently reported quarterly EPS of negative $0.82, in line with estimates.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $30.27. Recent targets include $42 from Guggenheim and $37 from Morgan Stanley.
• Company insiders sold 88,450 shares worth approximately $2.37 million over the past three months, including sales by the CEO and COO under pre-arranged Rule 10b5-1 trading plans.

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $27.73, but opened at $22.80. Bicara Therapeutics shares last traded at $24.9350, with a volume of 316,476 shares changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on BCAX. Guggenheim began coverage on shares of Bicara Therapeutics in a research note on Monday, May 11th. They issued a "buy" rating and a $42.00 price objective for the company. Morgan Stanley raised their target price 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. Cantor Fitzgerald restated an "overweight" rating on shares of Bicara Therapeutics in a report on Wednesday, May 27th. Wall Street Zen raised Bicara Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Bicara Therapeutics in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $30.27.

Bicara Therapeutics Stock Down 10.0%

The stock's 50-day simple moving average is $25.82 and its 200 day simple moving average is $21.64. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -9.00 and a beta of -0.75.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.82). On average, sell-side analysts expect that Bicara Therapeutics Inc. will post -3.42 EPS for the current fiscal year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, COO Ryan Cohlhepp sold 28,214 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $28.98, for a total value of $817,641.72. Following the sale, the chief operating officer owned 182,177 shares of the company's stock, valued at approximately $5,279,489.46. This represents a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 dated Friday, July 10th. The shares were sold at an average price of $28.42, for a total transaction of $284,200.00. Following the completion of the sale, the chief executive officer directly owned 362,152 shares in the company, valued at $10,292,359.84. This trade 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 have sold a total of 88,450 shares of company stock worth $2,366,675 in the last three months. Insiders own 13.80% of the company's stock.

Institutional Trading of Bicara Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position 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 acquiring an additional 1,233 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Bicara Therapeutics by 419.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company's stock valued at $44,000 after acquiring an additional 3,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Bicara Therapeutics during the 4th quarter valued at about $45,000. Larson Financial Group LLC boosted its holdings in Bicara Therapeutics by 1,015.5% in the third quarter. Larson Financial Group LLC now owns 3,949 shares of the company's stock valued at $62,000 after purchasing an additional 3,595 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Bicara Therapeutics by 385.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,775 shares of the company's stock worth $97,000 after buying an additional 4,585 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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