352,904 Shares of Bicara Therapeutics Inc. $BCAX Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 352,904 shares of Bicara Therapeutics in the second quarter, valued at approximately $10.5 million and representing about 0.53% of the company. Other major institutions, including BlackRock and Jupiter Topco, also established sizable positions.
• Bicara Therapeutics reported quarterly EPS of -$0.82, in line with analyst expectations. The stock opened at $19.21, below its 50-day and 200-day moving averages, with a market capitalization of roughly $1.27 billion.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $32.64, although insiders sold 125,500 shares worth approximately $3.48 million over the past three months.

Bank of America Corp DE bought a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 352,904 shares of the company's stock, valued at approximately $10,478,000. Bank of America Corp DE owned approximately 0.53% of Bicara Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Bicara Therapeutics in the 2nd quarter valued at about $114,250,000. Jupiter Topco LLC acquired a new position in Bicara Therapeutics during the second quarter worth approximately $93,957,000. Janus Henderson Group PLC increased its position in 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 during the period. Siren L.L.C. lifted its stake in Bicara Therapeutics by 11.2% in the first 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. Finally, Orbimed Advisors LLC lifted its stake 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 buying an additional 458,200 shares during the last quarter.

Bicara Therapeutics Stock Performance

Bicara Therapeutics stock opened at $19.21 on Friday. Bicara Therapeutics Inc. has a one year low of $10.48 and a one year high of $30.99. The business has a fifty day moving average of $24.50 and a two-hundred day moving average of $23.27. The company has a market cap of $1.27 billion, a P/E ratio of -6.20 and a beta of -0.82.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, meeting the consensus estimate of ($0.82). Sell-side analysts predict that Bicara Therapeutics Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BCAX. Weiss Ratings restated a "sell (d-)" rating on shares of Bicara Therapeutics in a research report on Monday, July 6th. HSBC downgraded shares of Bicara Therapeutics to an "equal weight" rating in a research report on Tuesday. Mizuho raised their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 12th. Citigroup restated a "market outperform" rating on shares of Bicara Therapeutics in a research note on Friday, August 21st. Finally, Morgan Stanley upped their target price on shares of Bicara Therapeutics from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $32.64.

Insider Buying and Selling at Bicara Therapeutics

In related news, CFO Ivan Hyep sold 28,000 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $28.85, for a total value of $807,800.00. Following the sale, the chief financial officer owned 129,855 shares in the company, valued at $3,746,316.75. This represents a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Ryan Cohlhepp sold 28,214 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $28.98, for a total value of $817,641.72. Following the completion of the transaction, the chief operating officer directly owned 182,177 shares of the company's stock, valued at $5,279,489.46. The trade was a 13.41% 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 sold 125,500 shares of company stock valued at $3,479,986. Corporate insiders own 13.80% of the company's stock.

Bicara Therapeutics Company Profile

Bicara Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for solid tumors. The company uses a proprietary bifunctional antibody platform designed to target tumor cells while modifying the surrounding tumor microenvironment, which may help improve the activity of cancer immunotherapies.

Bicara's lead product candidate is ficerafusp alfa, also known as BCA101. The investigational therapy is designed to block epidermal growth factor receptor (EGFR) signaling and inhibit transforming growth factor beta (TGF-β), two pathways associated with tumor growth and immune suppression.

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