Bicara Therapeutics (NASDAQ:BCAX) Upgraded at Guggenheim

Bicara Therapeutics (NASDAQ:BCAX) was upgraded by equities research analysts at Guggenheim to a “strong-buy” rating in a report issued on Sunday,Zacks.com reports.

BCAX has been the subject of several other research reports. Citigroup assumed coverage on Bicara Therapeutics in a report on Thursday, January 29th. They issued an “outperform” rating for the company. Wedbush restated an “outperform” rating and issued a $30.00 price objective on shares of Bicara Therapeutics in a report on Tuesday, March 31st. UBS Group restated a “buy” rating on shares of Bicara Therapeutics in a report on Wednesday, January 14th. HC Wainwright upped their price objective on Bicara Therapeutics from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Wells Fargo & Company upped their price objective on Bicara Therapeutics from $11.00 to $16.00 and gave the company an “equal weight” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bicara Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Bicara Therapeutics Stock Performance

NASDAQ:BCAX opened at $22.92 on Friday. Bicara Therapeutics has a 1 year low of $7.80 and a 1 year high of $24.25. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -9.06 and a beta of -0.57. The business has a fifty day moving average of $20.74 and a 200-day moving average of $18.08.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.29). On average, equities research analysts predict that Bicara Therapeutics will post -2.72 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ivan Hyep sold 9,200 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $23.00, for a total value of $211,600.00. Following the completion of the transaction, the chief financial officer owned 145,355 shares in the company, valued at $3,343,165. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Raben sold 5,500 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $22.88, for a total value of $125,840.00. Following the completion of the transaction, the insider owned 55,286 shares of the company’s stock, valued at $1,264,943.68. This trade represents a 9.05% 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. In the last three months, insiders sold 174,310 shares of company stock valued at $3,459,283.

Hedge Funds Weigh In On Bicara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Bicara Therapeutics in the 4th quarter valued at $45,000. Legal & General Group Plc boosted its position in shares of Bicara Therapeutics by 64.1% in the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company’s stock valued at $29,000 after purchasing an additional 1,233 shares during the period. Larson Financial Group LLC boosted its position in shares of Bicara Therapeutics by 1,015.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,949 shares of the company’s stock valued at $62,000 after purchasing an additional 3,595 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Bicara Therapeutics by 419.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company’s stock valued at $44,000 after purchasing an additional 3,866 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Bicara Therapeutics by 385.3% in the 4th 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.