BlackRock Inc. Acquires New Position in Bicara Therapeutics Inc. $BCAX

Key Points

• BlackRock acquired 3.85 million Bicara Therapeutics shares in the second quarter, worth approximately $114.25 million and representing a 5.86% stake. Other major institutions, including Siren, Janus Henderson and T. Rowe Price, also increased their positions.
• Analysts remain broadly positive, with Bicara holding a consensus “Moderate Buy” rating and an average price target of $32.64. Recent targets range from $20 to $35, including new or upgraded “Outperform” ratings from Wedbush and BMO Capital Markets.
• BCAX opened at $23.43 after falling 5.6%, while the company reported a quarterly loss of $0.82 per share, in line with expectations. Insiders have sold 108,000 shares worth about $3.08 million over the past 90 days under pre-arranged trading plans.

BlackRock Inc. acquired a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,848,090 shares of the company's stock, valued at approximately $114,250,000. BlackRock Inc. owned about 5.86% of Bicara Therapeutics at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Siren L.L.C. raised its position in shares of Bicara Therapeutics by 11.2% during 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 period. Vestal Point Capital LP raised its holdings in Bicara Therapeutics by 2.0% in the 3rd quarter. Vestal Point Capital LP now owns 5,100,000 shares of the company's stock valued at $80,529,000 after buying an additional 100,000 shares during the period. Janus Henderson Group PLC raised its holdings in 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 buying an additional 692,933 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Bicara Therapeutics by 596.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,236,595 shares of the company's stock valued at $54,472,000 after buying an additional 2,771,868 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Bicara Therapeutics by 9.8% in the third quarter. Vanguard Group Inc. now owns 2,200,925 shares of the company's stock valued at $34,753,000 after buying an additional 195,667 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BCAX shares. Wedbush raised their price target on Bicara Therapeutics from $30.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. BMO Capital Markets assumed coverage on Bicara Therapeutics in a research note on Tuesday, August 18th. They set an "outperform" rating and a $35.00 target price on the stock. The Goldman Sachs Group lifted their target price on Bicara Therapeutics from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, August 12th. Mizuho lifted their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, August 12th. Finally, Wells Fargo & Company increased their target price on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.64.

Bicara Therapeutics Trading Down 5.6%

BCAX stock opened at $23.43 on Friday. The stock has a market cap of $1.55 billion, a P/E ratio of -7.56 and a beta of -0.75. Bicara Therapeutics Inc. has a twelve month low of $10.30 and a twelve month high of $30.99. The company's 50 day moving average is $26.71 and its two-hundred day moving average is $22.37.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.82). On average, equities research analysts predict that Bicara Therapeutics Inc. will post -3.45 earnings per share for the current year.

Insider Activity

In other news, COO Ryan Cohlhepp sold 28,214 shares of the company's stock in a transaction dated 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 sale, the chief operating officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, 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 firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.98, for a total value of $279,800.00. Following the transaction, the chief executive officer directly owned 362,152 shares in the company, valued at approximately $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 have sold 108,000 shares of company stock valued at $3,079,236 in the last ninety days. 13.80% of the stock is currently owned by company insiders.

Bicara Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.