Bicara Therapeutics (NASDAQ:BCAX) Sets New 12-Month High – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $21.63 and last traded at $20.85, with a volume of 552051 shares trading hands. The stock had previously closed at $21.47.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup assumed coverage on Bicara Therapeutics in a report on Thursday, January 29th. They issued an “outperform” rating for the company. Mizuho raised Bicara Therapeutics to a “hold” rating in a report on Thursday, December 18th. Bank of America started coverage on Bicara Therapeutics in a report on Wednesday, March 25th. They issued a “buy” rating and a $35.00 price target for the company. BTIG Research reissued a “buy” rating on shares of Bicara Therapeutics in a research note on Thursday, January 15th. Finally, HC Wainwright upped their price objective on shares of Bicara Therapeutics from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Bicara Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Bicara Therapeutics Stock Down 2.9%

The firm has a market cap of $1.37 billion, a PE ratio of -8.24 and a beta of -1.23. The firm’s 50 day moving average is $17.55 and its 200-day moving average is $16.95.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.04. On average, analysts forecast that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Insider Activity at Bicara Therapeutics

In related news, CEO Claire Mazumdar sold 36,766 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $19.17, for a total transaction of $704,804.22. Following the completion of the transaction, the chief executive officer owned 339,392 shares of the company’s stock, valued at approximately $6,506,144.64. This represents a 9.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Ryan Cohlhepp sold 17,392 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $18.16, for a total transaction of $315,838.72. Following the transaction, the chief operating officer directly owned 205,141 shares of the company’s stock, valued at $3,725,360.56. This trade represents a 7.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 137,969 shares of company stock worth $2,586,198. 15.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicara Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BCAX. Legal & General Group Plc increased its position in Bicara Therapeutics by 64.1% during the second quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock worth $29,000 after purchasing an additional 1,233 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Bicara Therapeutics by 419.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company’s stock worth $44,000 after acquiring an additional 3,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Bicara Therapeutics in the fourth quarter worth $45,000. Larson Financial Group LLC increased its position in shares of Bicara Therapeutics by 1,015.5% in the third quarter. Larson Financial Group LLC now owns 3,949 shares of the company’s stock worth $62,000 after acquiring an additional 3,595 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Bicara Therapeutics by 385.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,775 shares of the company’s stock worth $97,000 after acquiring an additional 4,585 shares in 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.