Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Up – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $15.48, but opened at $16.49. Bicara Therapeutics shares last traded at $16.43, with a volume of 13,148 shares.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BCAX. Wells Fargo & Company upped their target price on Bicara Therapeutics from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Mizuho raised shares of Bicara Therapeutics to a “hold” rating in a research note on Thursday, December 18th. Citigroup began coverage on Bicara Therapeutics in a report on Thursday, January 29th. They set an “outperform” rating on the stock. UBS Group reiterated a “buy” rating on shares of Bicara Therapeutics in a research report on Wednesday, January 14th. Finally, HC Wainwright reissued a “buy” rating on shares of Bicara Therapeutics in a research note on Wednesday, January 14th. Seven 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Bicara Therapeutics Trading Down 4.8%

The company has a 50-day moving average price of $16.43 and a two-hundred day moving average price of $15.45. The stock has a market capitalization of $912.69 million, a P/E ratio of -7.44 and a beta of -0.79.

Insider Transactions at Bicara Therapeutics

In other news, COO Ryan Cohlhepp sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $18.68, for a total transaction of $233,500.00. Following the transaction, the chief operating officer directly owned 189,141 shares of the company’s stock, valued at $3,533,153.88. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ivan Hyep sold 1,882 shares of Bicara Therapeutics stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $18.15, for a total transaction of $34,158.30. Following the completion of the sale, the chief financial officer directly owned 145,355 shares of the company’s stock, valued at approximately $2,638,193.25. The trade was a 1.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,359 shares of company stock worth $339,630 in the last three months. Insiders own 15.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BCAX. Vestal Point Capital LP lifted its position in Bicara Therapeutics by 2.0% in the 3rd quarter. Vestal Point Capital LP now owns 5,100,000 shares of the company’s stock valued at $80,529,000 after acquiring an additional 100,000 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Bicara Therapeutics by 596.5% in 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 purchasing an additional 2,771,868 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $44,484,000. Vanguard Group Inc. lifted its position 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 worth $34,753,000 after buying an additional 195,667 shares in the last quarter. Finally, State Street Corp lifted its stake in Bicara Therapeutics by 179.5% in the fourth 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 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.