Bicara Therapeutics (NASDAQ:BCAX) Hits New 1-Year High – Still a Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price hit a new 52-week high on Monday . The company traded as high as $24.49 and last traded at $23.88, with a volume of 70774 shares. The stock had previously closed at $23.23.

Wall Street Analysts Forecast Growth

BCAX has been the topic of several research reports. The Goldman Sachs Group raised their price objective on Bicara Therapeutics from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Citizens Jmp reiterated a “market outperform” rating and issued a $31.00 target price on shares of Bicara Therapeutics in a research note on Tuesday, March 31st. Guggenheim assumed coverage on Bicara Therapeutics in a report on Monday, May 11th. They set a “buy” rating and a $42.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of Bicara Therapeutics in a report on Tuesday, March 31st. Finally, Morgan Stanley boosted their price target on Bicara Therapeutics from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.27.

Bicara Therapeutics Trading Up 3.1%

The business’s 50-day simple moving average is $21.82 and its two-hundred day simple moving average is $19.08. The company has a market capitalization of $1.57 billion, a PE ratio of -8.61 and a beta of -0.54.

Bicara Therapeutics (NASDAQ:BCAX) last announced its earnings results on Monday, May 11th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.21). On average, analysts forecast that Bicara Therapeutics Inc. will post -3.48 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ivan Hyep sold 9,200 shares of Bicara Therapeutics stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.42, for a total value of $187,864.00. Following the completion of the sale, the chief financial officer owned 145,355 shares in the company, valued at approximately $2,968,149.10. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Ryan Cohlhepp sold 12,500 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $20.29, for a total transaction of $253,625.00. Following the completion of the sale, the chief operating officer directly owned 191,641 shares in the company, valued at $3,888,395.89. This represents a 6.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 63,900 shares of company stock valued at $1,420,704 over the last 90 days. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bicara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of BCAX. Janus Henderson Group PLC lifted its position in shares of Bicara Therapeutics by 26.2% during the first quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock worth $66,350,000 after purchasing an additional 692,933 shares during the last quarter. Rock Springs Capital Management LP increased its holdings in Bicara Therapeutics by 14.0% in the first quarter. Rock Springs Capital Management LP now owns 489,095 shares of the company’s stock valued at $9,728,000 after buying an additional 60,000 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Bicara Therapeutics by 16.1% in the first quarter. Quantinno Capital Management LP now owns 17,612 shares of the company’s stock valued at $350,000 after buying an additional 2,447 shares during the last quarter. Orbimed Advisors LLC raised its stake in Bicara Therapeutics by 219.1% during the first quarter. Orbimed Advisors LLC now owns 667,300 shares of the company’s stock valued at $13,273,000 after buying an additional 458,200 shares in the last quarter. Finally, Siren L.L.C. raised its stake in Bicara Therapeutics by 11.2% during the first quarter. Siren L.L.C. now owns 5,802,970 shares of the company’s stock valued at $115,421,000 after buying an additional 586,001 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.