Walleye Capital LLC Takes Position in Bicara Therapeutics Inc. $BCAX

Key Points

• Walleye Capital LLC initiated a new position in Bicara Therapeutics, buying 108,008 shares worth about $2.15 million in the first quarter.
• Several other hedge funds also increased their BCAX holdings, including Dimensional Fund Advisors, Swiss National Bank, and T. Rowe Price, signaling broader institutional interest in the stock.
• Insiders have been selling shares recently, with COO Ryan Cohlhepp and insider David Raben among those trimming stakes; the company also reported a quarterly EPS miss and analysts currently rate the stock a Moderate Buy with a consensus target of $30.27.

Walleye Capital LLC bought a new stake in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 108,008 shares of the company's stock, valued at approximately $2,148,000. Walleye Capital LLC owned 0.16% of Bicara Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BCAX. Dimensional Fund Advisors LP boosted its holdings in Bicara Therapeutics by 166.9% during the first quarter. Dimensional Fund Advisors LP now owns 109,261 shares of the company's stock worth $2,170,000 after buying an additional 68,327 shares in the last quarter. Swiss National Bank increased its holdings in Bicara Therapeutics by 70.3% in the first quarter. Swiss National Bank now owns 55,000 shares of the company's stock valued at $1,094,000 after buying an additional 22,700 shares in the last quarter. Candriam S.C.A. purchased a new position in Bicara Therapeutics in the first quarter valued at $4,750,000. Caitong International Asset Management Co. Ltd raised its position 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 acquiring an additional 4,585 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of 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 worth $54,472,000 after acquiring an additional 2,771,868 shares during the period.

Insider Activity at Bicara Therapeutics

In related news, COO Ryan Cohlhepp sold 28,214 shares of Bicara Therapeutics stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $28.98, for a total value of $817,641.72. Following the sale, the chief operating officer directly owned 182,177 shares in the company, valued at approximately $5,279,489.46. The trade was a 13.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Raben sold 5,500 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $22.88, for a total value of $125,840.00. Following the sale, the insider owned 55,286 shares of the company's stock, valued at approximately $1,264,943.68. This trade represents a 9.05% 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. Over the last 90 days, insiders sold 93,950 shares of company stock valued at $2,492,515. 13.80% of the stock is owned by corporate insiders.

Bicara Therapeutics Stock Performance

NASDAQ:BCAX opened at $27.73 on Friday. The stock has a market capitalization of $1.82 billion, a PE ratio of -9.97 and a beta of -0.81. Bicara Therapeutics Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $30.99. The company has a fifty day moving average of $24.42 and a two-hundred day moving average of $20.81.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its 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). Research analysts forecast that Bicara Therapeutics Inc. will post -3.42 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BCAX shares. HC Wainwright increased their target price on shares of Bicara Therapeutics from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, March 31st. Wedbush restated an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a research note on Tuesday, March 31st. Wells Fargo & Company upped their price target on Bicara Therapeutics from $11.00 to $16.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 31st. The Goldman Sachs Group increased their price target on Bicara Therapeutics from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen raised Bicara Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Bicara Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.27.

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.