Bicara Therapeutics (NASDAQ:BCAX) Earns Buy Rating from Analysts at Bank of America

Bank of America initiated coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $35.00 price objective on the stock.

BCAX has been the subject of a number of other reports. Mizuho raised Bicara Therapeutics to a “hold” rating in a research note on Thursday, December 18th. Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Bicara Therapeutics in a research report on Tuesday, January 13th. UBS Group reaffirmed a “buy” rating on shares of Bicara Therapeutics in a research note on Wednesday, January 14th. BTIG Research reissued a “buy” rating on shares of Bicara Therapeutics in a research note on Thursday, January 15th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Bicara Therapeutics in a research note on Wednesday, January 14th. Seven investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.63.

Bicara Therapeutics Price Performance

Shares of NASDAQ:BCAX opened at $18.37 on Wednesday. The stock has a market cap of $1.01 billion, a P/E ratio of -8.20 and a beta of -0.78. Bicara Therapeutics has a 1-year low of $7.80 and a 1-year high of $20.25. The firm has a fifty day moving average price of $17.10 and a 200 day moving average price of $16.50.

Insiders Place Their Bets

In related news, insider David Raben sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.52, for a total transaction of $301,876.00. Following the completion of the sale, the insider directly owned 55,286 shares in the company, valued at approximately $1,023,896.72. This trade represents a 22.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Ryan Cohlhepp sold 12,500 shares of Bicara Therapeutics stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $19.66, for a total value of $245,750.00. Following the sale, the chief operating officer owned 200,641 shares of the company’s stock, valued at approximately $3,944,602.06. This represents a 5.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 137,969 shares of company stock worth $2,586,198 over the last three months. Company insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Bicara Therapeutics by 596.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,236,595 shares of the company’s stock valued at $54,472,000 after acquiring an additional 2,771,868 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Bicara Therapeutics in the 4th quarter worth about $44,484,000. Vestal Point Capital LP grew its holdings 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 worth $46,450,000 after purchasing an additional 2,231,025 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Bicara Therapeutics in the fourth quarter valued at about $27,265,000. Finally, State Street Corp lifted its holdings in Bicara Therapeutics by 179.5% during the 4th quarter. State Street Corp now owns 1,649,537 shares of the company’s stock worth $27,762,000 after buying an additional 1,059,260 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.