Bicara Therapeutics (NASDAQ:BCAX) Sees Large Volume Increase - Time to Buy?

Key Points

• Bicara Therapeutics shares fell 10.8% to $8.592 while trading volume rose 10% above its average, signaling unusually active trading. The stock’s market capitalization is approximately $574 million.
• Analyst sentiment remains a consensus “Moderate Buy,” with an average price target of $30.91, although ratings include two Strong Buys, ten Buys, three Holds and two Sells.
• The clinical-stage biotech reported an adjusted loss of $0.82 per share, in line with estimates, and analysts expect a full-year loss of $3.49 per share. Insiders sold 58,750 shares worth approximately $1.55 million over the past 90 days, while the company continues developing its lead cancer candidate, ficerafusp alfa.

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) saw unusually-strong trading volume on Friday. 778,557 shares were traded during trading, an increase of 10% from the average daily volume of 710,788 shares. The stock last traded at $8.5920 and had previously closed at $9.73.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCAX. Benchmark reaffirmed a "buy" rating on shares of Bicara Therapeutics in a research report on Thursday. HSBC lowered shares of Bicara Therapeutics to an "equal weight" rating in a research report on Tuesday, September 22nd. Morgan Stanley reiterated an "overweight" rating on shares of Bicara Therapeutics in a research report on Tuesday, October 20th. Citigroup reiterated a "market outperform" rating on shares of Bicara Therapeutics in a report on Friday, August 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Bicara Therapeutics in a research report on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Bicara Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $30.91.

Bicara Therapeutics Stock Down 10.8%

The company has a market capitalization of $574.16 million, a PE ratio of -2.80 and a beta of -0.70. The company's 50 day moving average is $20.04 and its two-hundred day moving average is $21.20.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, meeting the consensus estimate of ($0.82). Analysts forecast that Bicara Therapeutics Inc. will post -3.49 EPS for the current year.

Insider Buying and Selling at Bicara Therapeutics

In other news, CEO Ryan Cohlhepp sold 17,500 shares of the company's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $22.90, for a total value of $400,750.00. Following the sale, the chief executive officer owned 181,641 shares in the company, valued at $4,159,578.90. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ivan Hyep sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $27.97, for a total value of $349,625.00. Following the completion of the sale, the chief financial officer directly owned 129,855 shares in the company, valued at approximately $3,632,044.35. The trade was a 8.78% 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 ninety days, insiders sold 58,750 shares of company stock valued at $1,554,800. 13.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in shares of Bicara Therapeutics by 457.0% in the third quarter. Sterling Capital Management LLC now owns 1,387 shares of the company's stock valued at $26,000 after purchasing an additional 1,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $63,000. China Universal Asset Management Co. Ltd. grew its position in Bicara Therapeutics by 15.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,074 shares of the company's stock worth $224,000 after purchasing an additional 1,617 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Bicara Therapeutics in the 2nd quarter valued at approximately $241,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Bicara Therapeutics in the second quarter valued at about $272,000.

About Bicara Therapeutics

Bicara Therapeutics Inc is a clinical-stage biotechnology company developing bifunctional therapies for the treatment of solid tumors. The company's approach is designed to combine tumor-targeting activity with immune-system modulation in a single therapeutic candidate.

Bicara's lead product candidate is ficerafusp alfa, also known as BCA101. The investigational therapy is designed to target epidermal growth factor receptor (EGFR) on cancer cells while simultaneously trapping transforming growth factor beta (TGF-β), a signaling protein that can contribute to tumor growth and immune suppression.

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