Rock Springs Capital Management LP Raises Stock Holdings in Bicara Therapeutics Inc. $BCAX

Key Points

• Rock Springs Capital Management increased its Bicara Therapeutics stake by 14% in the first quarter, acquiring 60,000 additional shares and bringing its holdings to 489,095 shares valued at approximately $9.7 million.
• Bicara shares opened at $27.81, up 2.9%, with a market capitalization of $1.83 billion. The company reported a quarterly loss of $0.93 per share, missing analysts’ estimate of a $0.72 loss.
• Insiders sold 88,450 shares worth roughly $2.37 million over the past 90 days, while Wall Street maintained a broadly positive outlook with an overall “Moderate Buy” rating and an average price target of $30.27.

Rock Springs Capital Management LP increased its holdings in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 489,095 shares of the company's stock after acquiring an additional 60,000 shares during the quarter. Rock Springs Capital Management LP owned approximately 0.74% of Bicara Therapeutics worth $9,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG increased its position in shares of Bicara Therapeutics by 0.9% during the 4th quarter. Deutsche Bank AG now owns 128,626 shares of the company's stock valued at $2,165,000 after purchasing an additional 1,171 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Bicara Therapeutics by 64.1% in the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company's stock worth $29,000 after buying an additional 1,233 shares during the last quarter. Mariner LLC boosted its holdings in shares of Bicara Therapeutics by 3.0% in the 4th quarter. Mariner LLC now owns 64,562 shares of the company's stock worth $1,087,000 after buying an additional 1,902 shares during the last quarter. Invesco Ltd. grew its position in Bicara Therapeutics by 13.2% during the second quarter. Invesco Ltd. now owns 16,877 shares of the company's stock valued at $157,000 after buying an additional 1,962 shares during the period. Finally, Quantinno Capital Management LP grew its position in Bicara Therapeutics by 16.1% during the first quarter. Quantinno Capital Management LP now owns 17,612 shares of the company's stock valued at $350,000 after buying an additional 2,447 shares during the period.

Bicara Therapeutics Stock Up 2.9%

Shares of NASDAQ:BCAX opened at $27.81 on Tuesday. The firm has a market capitalization of $1.83 billion, a PE ratio of -10.00 and a beta of -0.81. The company has a 50-day moving average price of $24.72 and a two-hundred day moving average price of $20.97. Bicara Therapeutics Inc. has a twelve month low of $9.57 and a twelve month high of $30.99.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.21). Analysts anticipate that Bicara Therapeutics Inc. will post -3.42 earnings per share for the current fiscal year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, CFO Ivan Hyep sold 28,000 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $28.85, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 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. In the last ninety days, insiders sold 88,450 shares of company stock worth $2,366,675. Corporate insiders own 13.80% of the company's stock.

Wall Street Analyst Weigh In

BCAX has been the topic of several research reports. HC Wainwright lifted their price objective on shares of Bicara Therapeutics from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. Wall Street Zen raised shares of Bicara Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Bicara Therapeutics in a research note on Monday, July 6th. Guggenheim initiated coverage on Bicara Therapeutics in a research note on Monday, May 11th. They issued a "buy" rating and a $42.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on Bicara Therapeutics from $11.00 to $16.00 and gave the company an "equal weight" rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.27.

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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