Bicara Therapeutics (NASDAQ:BCAX) Reaches New 1-Year High – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX) reached a new 52-week high during trading on Monday . The stock traded as high as $19.75 and last traded at $19.70, with a volume of 1000372 shares traded. The stock had previously closed at $18.47.

Wall Street Analysts Forecast Growth

BCAX has been the topic of a number of recent analyst reports. Citizens Jmp initiated coverage on Bicara Therapeutics in a research report on Thursday, January 29th. They set a “market perform” rating and a $31.00 price target on the stock. UBS Group reaffirmed a “buy” rating on shares of Bicara Therapeutics in a research report on Wednesday, January 14th. BTIG Research reissued a “buy” rating on shares of Bicara Therapeutics in a report on Thursday, January 15th. Wedbush restated an “outperform” rating and set a $30.00 price target on shares of Bicara Therapeutics in a research note on Tuesday, January 13th. Finally, Mizuho raised shares of Bicara Therapeutics to a “hold” rating in a research report on Thursday, December 18th. Seven equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Bicara Therapeutics Stock Performance

The company has a 50 day simple moving average of $16.47 and a two-hundred day simple moving average of $15.82. The firm has a market cap of $1.08 billion, a PE ratio of -8.79 and a beta of -0.78.

Insider Buying and Selling at Bicara Therapeutics

In other news, CFO Ivan Hyep sold 13,555 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $18.22, for a total value of $246,972.10. Following the sale, the chief financial officer owned 145,355 shares in the company, valued at $2,648,368.10. This represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ryan Cohlhepp sold 17,392 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $18.16, for a total transaction of $315,838.72. Following the transaction, the chief operating officer owned 205,141 shares of the company’s stock, valued at $3,725,360.56. This represents a 7.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,003 shares of company stock worth $1,416,399 in the last 90 days. Corporate insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On Bicara Therapeutics

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

Bicara Therapeutics Company Profile

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.