Weiss Ratings Reiterates "Sell (D-)" Rating for Bicara Therapeutics (NASDAQ:BCAX)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Bicara Therapeutics (NASDAQ: BCAX), signaling continued negative sentiment about the stock's performance.
• Despite receiving a buy rating from HC Wainwright and an "overweight" rating from Piper Sandler, the stock is currently trading down 6.7% at $17.27.
• Insiders, including the CFO and COO, have sold significant amounts of stock recently, indicating potential concerns about the company’s future performance.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Several other equities analysts have also weighed in on BCAX. HC Wainwright cut their target price on shares of Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a report on Friday, August 22nd. Piper Sandler started coverage on shares of Bicara Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $36.00 price objective for the company. Finally, Wedbush restated an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.86.

Bicara Therapeutics Trading Down 6.7%

Shares of NASDAQ BCAX traded down $1.25 during trading on Tuesday, reaching $17.27. 474,771 shares of the company traded hands, compared to its average volume of 579,015. The firm's fifty day simple moving average is $12.65 and its 200 day simple moving average is $11.88. The stock has a market cap of $942.84 million and a P/E ratio of -5.47. Bicara Therapeutics has a 12-month low of $7.80 and a 12-month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.04. As a group, research analysts expect that Bicara Therapeutics will post -2.59 EPS for the current year.

Insiders Place Their Bets

In other Bicara Therapeutics news, CFO Ivan Hyep sold 6,415 shares of the business's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $18.23, for a total transaction of $116,945.45. Following the completion of the sale, the chief financial officer directly owned 145,355 shares in the company, valued at approximately $2,649,821.65. The trade was a 4.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ryan Cohlhepp sold 10,900 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $18.06, for a total value of $196,854.00. Following the sale, the chief operating officer owned 202,641 shares of the company's stock, valued at approximately $3,659,696.46. This trade represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,300 shares of company stock worth $1,988,108.

Institutional Investors Weigh In On Bicara Therapeutics

A number of large investors have recently modified their holdings of the business. Vestal Point Capital LP grew its holdings in shares of Bicara Therapeutics by 80.6% during the second quarter. Vestal Point Capital LP now owns 5,000,000 shares of the company's stock worth $46,450,000 after buying an additional 2,231,025 shares in the last quarter. Braidwell LP grew its stake in Bicara Therapeutics by 8.1% during the 1st quarter. Braidwell LP now owns 2,162,803 shares of the company's stock valued at $28,181,000 after acquiring an additional 162,144 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Bicara Therapeutics by 84.0% in the first quarter. Wellington Management Group LLP now owns 1,394,676 shares of the company's stock valued at $18,173,000 after purchasing an additional 636,708 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Bicara Therapeutics by 36.8% in the second quarter. Geode Capital Management LLC now owns 672,485 shares of the company's stock valued at $6,248,000 after purchasing an additional 180,833 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Bicara Therapeutics by 2,351.0% in the second 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.

About Bicara Therapeutics

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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