Bicara Therapeutics (NASDAQ:BCAX) Price Target Raised to $23.00

Bicara Therapeutics (NASDAQ:BCAX) had its target price hoisted by Wells Fargo & Company from $16.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. Morgan Stanley boosted their target price on shares of Bicara Therapeutics from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday. Guggenheim assumed coverage on shares of Bicara Therapeutics in a research note on Monday, May 11th. They issued a “buy” rating and a $42.00 price target on the stock. BTIG Research boosted their price target on Bicara Therapeutics from $28.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Bicara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bicara Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $32.73.

Bicara Therapeutics Price Performance

Shares of BCAX stock opened at $24.28 on Wednesday. The firm’s 50-day simple moving average is $26.15 and its 200-day simple moving average is $21.80. Bicara Therapeutics has a 1-year low of $10.30 and a 1-year high of $30.99. The firm has a market cap of $1.61 billion, a P/E ratio of -7.83 and a beta of -0.75.

Bicara Therapeutics (NASDAQ:BCAX) last posted its earnings results on Tuesday, August 11th. The company reported ($0.82) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.82). Analysts expect that Bicara Therapeutics will post -3.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Ivan Hyep sold 28,000 shares of Bicara Therapeutics stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $28.85, for a total value of $807,800.00. Following the transaction, the chief financial officer owned 129,855 shares in the company, valued at $3,746,316.75. This trade represents a 17.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Claire Mazumdar sold 10,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.98, for a total transaction of $279,800.00. Following the completion of the sale, the chief executive officer owned 362,152 shares of the company’s stock, valued at approximately $10,133,012.96. The trade was a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 117,200 shares of company stock worth $3,267,100 in the last ninety days. Corporate insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in Bicara Therapeutics during the 1st quarter worth about $248,000. Woodline Partners LP lifted its holdings in Bicara Therapeutics by 26.5% in the first quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock valued at $4,543,000 after buying an additional 72,998 shares during the period. Geode Capital Management LLC lifted its stake in shares of Bicara Therapeutics by 36.8% in the 2nd quarter. Geode Capital Management LLC now owns 672,485 shares of the company’s stock valued at $6,248,000 after purchasing an additional 180,833 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Bicara Therapeutics by 26.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,458 shares of the company’s stock worth $255,000 after purchasing an additional 5,664 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of 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 period.

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.