Bicara Therapeutics (NASDAQ:BCAX) Trading Down 8.6% - Time to Sell?

Key Points

• Bicara Therapeutics shares fell 8.6% to about $20.83, below both its 50-day moving average of $24.98 and 200-day average of $23.28.
• Despite the decline, analysts maintain a broadly positive outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $32.64, although HSBC recently downgraded it to “equal weight.”
• Insiders sold 125,500 shares worth approximately $3.48 million over the past 90 days, while the clinical-stage biotech continues developing ficerafusp alfa, its lead candidate targeting EGFR and TGF-β pathways in solid tumors.

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price traded down 8.6% during trading on Wednesday . The company traded as low as $20.93 and last traded at $20.83. Approximately 464,432 shares traded hands during trading, a decline of 22% from the average daily volume of 595,217 shares. The stock had previously closed at $22.78.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush increased their price target on shares of Bicara Therapeutics from $30.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. The Goldman Sachs Group increased their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 12th. Morgan Stanley raised their price objective on shares of Bicara Therapeutics from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. HSBC downgraded shares of Bicara Therapeutics to an "equal weight" rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bicara Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $32.64.

Bicara Therapeutics Stock Down 8.1%

The stock's 50 day moving average is $24.98 and its 200-day moving average is $23.28. The company has a market cap of $1.38 billion, a PE ratio of -6.75 and a beta of -0.82.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, meeting analysts' consensus estimates of ($0.82). On average, analysts anticipate that Bicara Therapeutics Inc. will post -3.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ryan Cohlhepp sold 17,500 shares of the company's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $22.90, for a total value of $400,750.00. Following the transaction, the chief executive officer directly owned 181,641 shares in the company, valued at approximately $4,159,578.90. This represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Claire Mazumdar sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.98, for a total transaction of $279,800.00. Following the transaction, the chief executive officer directly owned 362,152 shares in the company, valued at approximately $10,133,012.96. This trade represents a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 125,500 shares of company stock valued at $3,479,986 over the last 90 days. Insiders own 13.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BCAX. Caitong International Asset Management Co. Ltd grew its position in shares of Bicara Therapeutics by 385.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,775 shares of the company's stock worth $97,000 after buying an additional 4,585 shares during the last quarter. Arizona State Retirement System purchased a new stake in Bicara Therapeutics during the 2nd quarter valued at about $241,000. Susquehanna Fundamental Investments LLC acquired a new position in Bicara Therapeutics in the 2nd quarter worth approximately $272,000. Letko Brosseau & Associates Inc. purchased a new position in shares of Bicara Therapeutics during the fourth quarter worth $188,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Bicara Therapeutics in the 2nd quarter valued at about $407,000.

Bicara Therapeutics Company Profile

Bicara Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for solid tumors. The company uses a proprietary bifunctional antibody platform designed to target tumor cells while modifying the surrounding tumor microenvironment, which may help improve the activity of cancer immunotherapies.

Bicara's lead product candidate is ficerafusp alfa, also known as BCA101. The investigational therapy is designed to block epidermal growth factor receptor (EGFR) signaling and inhibit transforming growth factor beta (TGF-β), two pathways associated with tumor growth and immune suppression.

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.