Insider Selling: Bicara Therapeutics (NASDAQ:BCAX) CFO Sells 5,627 Shares of Stock

Key Points

• Ivan Hyep, CFO of Bicara Therapeutics, sold 5,627 shares of stock at an average price of $18.21, decreasing his overall position by 3.73% to 145,355 shares owned.
• Bicara Therapeutics has a market cap of approximately $982.98 million and trades with a price-to-earnings ratio of -5.68.
• Analysts have assigned a consensus rating of "Moderate Buy" for Bicara Therapeutics, with a target price of $31.86, reflecting potential growth amid insider trading activities.

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) CFO Ivan Hyep sold 5,627 shares of the company's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $18.21, for a total transaction of $102,467.67. Following the transaction, the chief financial officer owned 145,355 shares of the company's stock, valued at approximately $2,646,914.55. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ivan Hyep also recently made the following trade(s):

• On Tuesday, October 7th, Ivan Hyep sold 18,244 shares of Bicara Therapeutics stock. The stock was sold at an average price of $18.22, for a total transaction of $332,405.68.
• On Monday, October 6th, Ivan Hyep sold 6,514 shares of Bicara Therapeutics stock. The stock was sold at an average price of $18.17, for a total transaction of $118,359.38.

Bicara Therapeutics Stock Performance

Shares of BCAX traded down $0.17 during mid-day trading on Wednesday, hitting $18.00. 514,631 shares of the company were exchanged, compared to its average volume of 579,256. Bicara Therapeutics Inc. has a 1-year low of $7.80 and a 1-year high of $28.09. The company has a 50 day moving average of $12.09 and a 200-day moving average of $11.76. The stock has a market cap of $982.98 million and a price-to-earnings ratio of -5.68.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.04. Research analysts anticipate that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BCAX shares. Piper Sandler started coverage on shares of Bicara Therapeutics in a research note on Monday, August 18th. They set an "overweight" rating and a $36.00 price objective for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Bicara Therapeutics in a research note on Saturday, September 27th. Wedbush reissued an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a research note on Tuesday, August 12th. Finally, HC Wainwright dropped their price target on shares of Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.86.

Institutional Investors Weigh In On Bicara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in Bicara Therapeutics by 419.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company's stock worth $44,000 after buying an additional 3,866 shares in the last quarter. Vestal Point Capital LP raised its holdings in shares of Bicara Therapeutics by 80.6% in the 2nd quarter. Vestal Point Capital LP now owns 5,000,000 shares of the company's stock valued at $46,450,000 after purchasing an additional 2,231,025 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Bicara Therapeutics by 2,351.0% in the 2nd quarter. Bank of America Corp DE now owns 451,228 shares of the company's stock valued at $4,192,000 after purchasing an additional 432,818 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Bicara Therapeutics in the 2nd quarter valued at $149,000. Finally, Jane Street Group LLC purchased a new position in shares of Bicara Therapeutics in the 2nd quarter valued at $266,000.

Bicara Therapeutics Company Profile

Bicara Therapeutics Inc, a clinical-stage biopharmaceutical company, develops bifunctional therapies for solid tumors. Its lead program is ficerafusp alfa, a bifunctional antibody that combines an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-b) for the treatment of solid tumors.

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