Orbimed Advisors LLC Purchases 458,200 Shares of Bicara Therapeutics Inc. $BCAX

Key Points

• Orbimed Advisors increased its Bicara Therapeutics stake by 219.1% in the first quarter, acquiring 458,200 additional shares for a total holding of 667,300 shares valued at approximately $13.3 million.
• BCAX shares opened at $27.02, near the analyst consensus price target of $30.27. Wall Street’s overall rating is “Moderate Buy,” though the company missed its latest quarterly earnings estimate, reporting a loss of $0.93 per share versus expectations of $0.72.
• Company insiders sold 88,450 shares worth approximately $2.37 million during the last quarter under pre-arranged trading plans, while insiders continue to own 13.8% of Bicara’s stock.

Orbimed Advisors LLC boosted its holdings in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 219.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 667,300 shares of the company's stock after acquiring an additional 458,200 shares during the quarter. Orbimed Advisors LLC owned 1.02% of Bicara Therapeutics worth $13,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BCAX. 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 worth $115,421,000 after buying an additional 586,001 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Bicara Therapeutics in the first quarter worth approximately $2,148,000. Dimensional Fund Advisors LP raised its holdings in shares of Bicara Therapeutics by 166.9% during the first quarter. Dimensional Fund Advisors LP now owns 109,261 shares of the company's stock valued at $2,170,000 after purchasing an additional 68,327 shares during the last quarter. Swiss National Bank raised its holdings in shares of Bicara Therapeutics by 70.3% during the first quarter. Swiss National Bank now owns 55,000 shares of the company's stock valued at $1,094,000 after purchasing an additional 22,700 shares during the last quarter. Finally, Candriam S.C.A. bought a new position in Bicara Therapeutics during the first quarter valued at approximately $4,750,000.

Bicara Therapeutics Stock Performance

Shares of NASDAQ:BCAX opened at $27.02 on Monday. The stock has a 50 day moving average of $24.55 and a 200 day moving average of $20.89. The company has a market cap of $1.78 billion, a PE ratio of -9.72 and a beta of -0.81. Bicara Therapeutics Inc. has a 12-month low of $9.57 and a 12-month high of $30.99.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.93) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.21). Equities research analysts predict that Bicara Therapeutics Inc. will post -3.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BCAX shares. The Goldman Sachs Group raised their price target on Bicara Therapeutics from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bicara Therapeutics in a research report on Monday, July 6th. Morgan Stanley increased their target price on Bicara Therapeutics from $36.00 to $37.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Citizens Jmp reissued a "market outperform" rating and issued a $31.00 target price on shares of Bicara Therapeutics in a research report on Tuesday, March 31st. Finally, Wells Fargo & Company raised their target price on Bicara Therapeutics from $11.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.27.

Insiders Place Their Bets

In other Bicara Therapeutics news, CFO Ivan Hyep sold 28,000 shares of Bicara Therapeutics 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 of the company's stock, valued at $3,746,316.75. The trade was a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 business's stock in a transaction dated Friday, July 10th. The stock was 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 owned 362,152 shares in the company, valued at approximately $10,292,359.84. This trade represents a 2.69% 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. Insiders have sold a total of 88,450 shares of company stock valued at $2,366,675 in the last quarter. 13.80% of the stock is currently owned by insiders.

About Bicara Therapeutics

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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