Walleye Capital LLC Makes New $10.49 Million Investment in Bicara Therapeutics Inc. $BCAX

Key Points

• Walleye Capital initiated a $10.49 million position in Bicara Therapeutics, purchasing 353,226 shares, or approximately 0.54% of the company. Several other institutional investors also increased their holdings.
• BCAX opened at $24.28, compared with a 52-week range of $10.30 to $30.99. Bicara reported quarterly EPS of $(0.82), in line with analyst expectations, while full-year consensus estimates call for $(3.45) per share.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $32.73. However, insiders sold 117,200 shares worth about $3.27 million over the past three months.

Walleye Capital LLC bought a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 353,226 shares of the company's stock, valued at approximately $10,487,000. Walleye Capital LLC owned approximately 0.54% of Bicara Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in 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 acquiring an additional 1,233 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Bicara Therapeutics by 419.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company's stock worth $44,000 after purchasing an additional 3,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Bicara Therapeutics in the 4th quarter worth $45,000. Larson Financial Group LLC raised its stake in shares of Bicara Therapeutics by 1,015.5% in the third quarter. Larson Financial Group LLC now owns 3,949 shares of the company's stock worth $62,000 after purchasing an additional 3,595 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Bicara Therapeutics by 385.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,775 shares of the company's stock worth $97,000 after purchasing an additional 4,585 shares during the last quarter.

Bicara Therapeutics Price Performance

BCAX stock opened at $24.28 on Friday. Bicara Therapeutics Inc. has a 1 year low of $10.30 and a 1 year high of $30.99. The company has a market cap of $1.61 billion, a P/E ratio of -7.83 and a beta of -0.75. The stock's fifty day moving average price is $26.15 and its 200-day moving average price is $21.80.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, meeting analysts' consensus estimates of ($0.82). As a group, analysts expect that Bicara Therapeutics Inc. will post -3.45 earnings per share for the current year.

Insiders Place Their Bets

In other Bicara Therapeutics news, CFO Ivan Hyep sold 28,000 shares of the business's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $28.85, for a total transaction of $807,800.00. Following the completion of the sale, the chief financial officer directly owned 129,855 shares in the company, valued at $3,746,316.75. The trade was a 17.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.98, for a total transaction of $279,800.00. Following the sale, the chief executive officer directly owned 362,152 shares of the company's stock, valued at $10,133,012.96. The trade was a 2.69% 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. Over the last three months, insiders have sold 117,200 shares of company stock valued at $3,267,100. Insiders own 13.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on BCAX. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Bicara Therapeutics in a research report on Wednesday, May 27th. Mizuho boosted their target price on Bicara Therapeutics from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the company an "equal weight" rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Wedbush lifted their price target on shares of Bicara Therapeutics from $30.00 to $33.00 and gave the stock an "outperform" rating in a research note on Wednesday. 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 given a Sell rating to the stock. According to data from MarketBeat.com, Bicara Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $32.73.

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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