Siren L.L.C. Has $115.42 Million Position in Bicara Therapeutics Inc. $BCAX

Key Points

• Siren L.L.C. increased its stake in Bicara Therapeutics by 11.2% in the first quarter, ending with 5.8 million shares worth about $115.4 million. The position now represents 3.2% of Siren’s portfolio and about 8.83% of Bicara Therapeutics.
• Analyst sentiment is mixed but generally positive, with a consensus rating of “Moderate Buy” and an average target price of $30.27. Recent calls ranged from a sell rating by Weiss Ratings to buy/outperform ratings from Wedbush and HC Wainwright.
• Insiders sold shares in July, including COO Ryan Cohlhepp and CFO Ivan Hyep, as part of pre-arranged Rule 10b5-1 trading plans. The company also reported a wider-than-expected quarterly loss, missing EPS estimates by $0.21.

Siren L.L.C. boosted its holdings in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,802,970 shares of the company's stock after acquiring an additional 586,001 shares during the quarter. Bicara Therapeutics accounts for 3.2% of Siren L.L.C.'s portfolio, making the stock its 7th largest position. Siren L.L.C. owned about 8.83% of Bicara Therapeutics worth $115,421,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in shares of Bicara Therapeutics in the first quarter worth $248,000. Woodline Partners LP increased its holdings in shares of Bicara Therapeutics by 26.5% during the first quarter. Woodline Partners LP now owns 348,690 shares of the company's stock valued at $4,543,000 after purchasing an additional 72,998 shares during the period. Geode Capital Management LLC raised its stake in shares of Bicara Therapeutics by 36.8% during the second quarter. Geode Capital Management LLC now owns 672,485 shares of the company's stock valued at $6,248,000 after purchasing an additional 180,833 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Bicara Therapeutics by 26.0% in the second quarter. JPMorgan Chase & Co. now owns 27,458 shares of the company's stock worth $255,000 after purchasing an additional 5,664 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Bicara Therapeutics by 64.1% in the second quarter. Legal & General Group Plc now owns 3,156 shares of the company's stock worth $29,000 after purchasing an additional 1,233 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BCAX shares. The Goldman Sachs Group raised their target price on shares of Bicara Therapeutics from $16.00 to $18.00 and gave the company a "neutral" rating in a research note on Tuesday, May 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Bicara Therapeutics in a report on Wednesday, May 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bicara Therapeutics in a research note on Monday, July 6th. Wedbush reissued an "outperform" rating and set a $30.00 target price on shares of Bicara Therapeutics in a report on Tuesday, March 31st. Finally, HC Wainwright upped their target price on Bicara Therapeutics from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.27.

Insider Activity at Bicara Therapeutics

In related news, 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 transaction of $817,641.72. Following the completion of the sale, the chief operating officer directly owned 182,177 shares in the company, valued at approximately $5,279,489.46. This trade represents a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 28,000 shares of Bicara Therapeutics stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $28.85, for a total transaction of $807,800.00. Following the sale, the chief financial officer directly owned 129,855 shares of the company's stock, valued at $3,746,316.75. This trade represents a 17.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 93,950 shares of company stock valued at $2,492,515 over the last ninety days. 13.80% of the stock is owned by company insiders.

Bicara Therapeutics Trading Down 0.8%

NASDAQ BCAX opened at $27.73 on Friday. Bicara Therapeutics Inc. has a 1 year low of $9.57 and a 1 year high of $30.99. The stock's 50-day moving average price is $24.42 and its two-hundred day moving average price is $20.81. The company has a market cap of $1.82 billion, a PE ratio of -9.97 and a beta of -0.81.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.93) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.21). Research analysts forecast that Bicara Therapeutics Inc. will post -3.42 EPS for the current fiscal year.

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.

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