Bicara Therapeutics (NASDAQ:BCAX) Trading Up 3.9% – Here’s Why
by Jessica Moore · The Cerbat GemBicara Therapeutics Inc. (NASDAQ:BCAX – Get Free Report)’s share price shot up 3.9% during mid-day trading on Wednesday . The stock traded as high as $16.79 and last traded at $16.7450. 102,086 shares changed hands during trading, a decline of 83% from the average session volume of 607,748 shares. The stock had previously closed at $16.12.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on BCAX shares. Wells Fargo & Company upped their target price on Bicara Therapeutics from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Mizuho raised Bicara Therapeutics to a “hold” rating in a report on Thursday, December 18th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Bicara Therapeutics in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.00.
Get Our Latest Research Report on Bicara Therapeutics
Bicara Therapeutics Trading Up 2.7%
The company has a market cap of $906.64 million, a PE ratio of -7.39 and a beta of -0.87. The business has a fifty day simple moving average of $16.94 and a two-hundred day simple moving average of $13.75.
Bicara Therapeutics (NASDAQ:BCAX – Get Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.12). Equities analysts expect that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.
Insider Buying and Selling
In other news, CEO Claire Mazumdar sold 41,163 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $18.86, for a total value of $776,334.18. Following the completion of the sale, the chief executive officer owned 309,892 shares of the company’s stock, valued at $5,844,563.12. This represents a 11.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ivan Hyep sold 17,795 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $18.55, for a total transaction of $330,097.25. Following the sale, the chief financial officer owned 145,355 shares of the company’s stock, valued at $2,696,335.25. This represents a 10.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 236,597 shares of company stock valued at $4,360,025 in the last quarter.
Institutional Investors Weigh In On Bicara Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP lifted its stake 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 during the last quarter. Bank of America Corp DE lifted its position in 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 buying an additional 432,818 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Bicara Therapeutics in the second quarter valued at about $3,742,000. Schroder Investment Management Group boosted its stake in Bicara Therapeutics by 921.0% during the second quarter. Schroder Investment Management Group now owns 425,341 shares of the company’s stock worth $3,951,000 after buying an additional 383,681 shares during the period. Finally, Nan Fung Trinity HK Ltd. acquired a new stake in shares of Bicara Therapeutics during the second quarter valued at about $3,185,000.
About Bicara Therapeutics
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.
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