Bicara Therapeutics (NASDAQ:BCAX) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Bicara Therapeutics (NASDAQ:BCAX) in a research report released on Tuesday morning,Benzinga reports. They currently have a $30.00 price objective on the stock.

BCAX has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of Bicara Therapeutics from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Mizuho upgraded shares of Bicara Therapeutics to a “hold” rating in a report on Thursday, December 18th. BTIG Research assumed coverage on shares of Bicara Therapeutics in a research note on Thursday, January 8th. They set a “buy” rating and a $28.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Friday. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bicara Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Bicara Therapeutics Stock Performance

Shares of NASDAQ:BCAX opened at $17.53 on Tuesday. The firm has a market capitalization of $960.29 million, a P/E ratio of -7.83 and a beta of -0.79. The stock has a 50 day moving average price of $17.04 and a 200-day moving average price of $14.28. Bicara Therapeutics has a 52-week low of $7.80 and a 52-week high of $19.71.

Bicara Therapeutics (NASDAQ:BCAX) last released 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). On average, equities analysts forecast that Bicara Therapeutics will post -2.59 EPS for the current fiscal year.

Insider Activity

In related news, insider David Raben sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $18.45, for a total transaction of $101,475.00. Following the completion of the sale, the insider owned 35,497 shares of the company’s stock, valued at $654,919.65. This trade represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ryan Cohlhepp sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $18.68, for a total transaction of $233,500.00. Following the completion of the transaction, the chief operating officer owned 189,141 shares of the company’s stock, valued at approximately $3,533,153.88. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 90,063 shares of company stock worth $1,678,012.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Atle Fund Management AB raised its position in Bicara Therapeutics by 23.0% in the 2nd quarter. Atle Fund Management AB now owns 147,380 shares of the company’s stock worth $1,369,000 after buying an additional 27,547 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Bicara Therapeutics by 921.0% during the 2nd quarter. Schroder Investment Management Group now owns 425,341 shares of the company’s stock valued at $3,951,000 after acquiring an additional 383,681 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Bicara Therapeutics by 160.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 99,236 shares of the company’s stock worth $922,000 after acquiring an additional 61,201 shares during the period. TD Asset Management Inc raised its holdings in shares of Bicara Therapeutics by 71.5% during the second quarter. TD Asset Management Inc now owns 224,538 shares of the company’s stock valued at $2,086,000 after purchasing an additional 93,600 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in Bicara Therapeutics during the second quarter valued at approximately $3,742,000.

Bicara Therapeutics Company Profile

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.