Bicara Therapeutics (NASDAQ:BCAX) Coverage Initiated by Analysts at Bank of America

Bank of America started coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a report released on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $35.00 price target on the stock.

Several other research analysts have also recently weighed in on BCAX. HC Wainwright reaffirmed a “buy” rating on shares of Bicara Therapeutics in a report on Wednesday, January 14th. Citigroup started coverage on Bicara Therapeutics in a research note on Thursday, January 29th. They set an “outperform” rating for the company. Wedbush restated an “outperform” rating and issued a $30.00 target price on shares of Bicara Therapeutics in a research note on Tuesday, January 13th. BTIG Research reaffirmed a “buy” rating on shares of Bicara Therapeutics in a report on Thursday, January 15th. Finally, Mizuho upgraded Bicara Therapeutics to a “hold” rating in a research report on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.78.

Bicara Therapeutics Price Performance

NASDAQ BCAX opened at $18.68 on Wednesday. The company’s 50 day simple moving average is $17.03 and its two-hundred day simple moving average is $16.44. Bicara Therapeutics has a 1 year low of $7.80 and a 1 year high of $20.25. The stock has a market capitalization of $1.02 billion, a PE ratio of -8.34 and a beta of -0.78.

Insider Buying and Selling

In other Bicara Therapeutics news, CEO Claire Mazumdar sold 1,596 shares of Bicara Therapeutics stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.95, for a total value of $30,244.20. Following the transaction, the chief executive officer directly owned 339,392 shares of the company’s stock, valued at $6,431,478.40. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ivan Hyep sold 9,200 shares of Bicara Therapeutics stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $18.52, for a total value of $170,384.00. Following the completion of the transaction, the chief financial officer directly owned 145,355 shares in the company, valued at $2,691,974.60. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 137,969 shares of company stock worth $2,586,198. Insiders own 15.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vestal Point Capital LP raised its holdings in Bicara Therapeutics by 2.0% during the 3rd quarter. Vestal Point Capital LP now owns 5,100,000 shares of the company’s stock valued at $80,529,000 after buying an additional 100,000 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Bicara Therapeutics by 596.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,236,595 shares of the company’s stock worth $54,472,000 after acquiring an additional 2,771,868 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Bicara Therapeutics in the fourth quarter valued at about $44,484,000. Vanguard Group Inc. increased its position in shares of Bicara Therapeutics by 9.8% in the third quarter. Vanguard Group Inc. now owns 2,200,925 shares of the company’s stock valued at $34,753,000 after acquiring an additional 195,667 shares during the period. Finally, State Street Corp raised its stake in shares of Bicara Therapeutics by 179.5% during the fourth quarter. State Street Corp now owns 1,649,537 shares of the company’s stock valued at $27,762,000 after acquiring an additional 1,059,260 shares during the last quarter.

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.