Bicara Therapeutics (NASDAQ:BCAX) Coverage Initiated at Bank of America

Equities research analysts at Bank of America assumed coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $35.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 92.73% from the company’s previous close.

BCAX has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a research note on Friday, January 9th. UBS Group reiterated a “buy” rating on shares of Bicara Therapeutics in a research note on Wednesday, January 14th. Mizuho raised shares of Bicara Therapeutics to a “hold” rating in a report on Thursday, December 18th. Citizens Jmp assumed coverage on shares of Bicara Therapeutics in a research report on Thursday, January 29th. They set a “market perform” rating and a $31.00 target price for the company. Finally, BTIG Research reaffirmed a “buy” rating on shares of Bicara Therapeutics in a report on Thursday, January 15th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.78.

Bicara Therapeutics Stock Performance

Bicara Therapeutics stock opened at $18.16 on Wednesday. The stock has a market cap of $994.80 million, a PE ratio of -8.11 and a beta of -0.78. Bicara Therapeutics has a one year low of $7.80 and a one year high of $20.25. The stock has a fifty day moving average of $17.01 and a 200 day moving average of $16.42.

Insider Buying and Selling

In related news, COO Ryan Cohlhepp sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $19.66, for a total transaction of $245,750.00. Following the completion of the transaction, the chief operating officer directly owned 200,641 shares in the company, valued at approximately $3,944,602.06. The trade was a 5.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Claire Mazumdar sold 1,596 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.95, for a total transaction of $30,244.20. Following the completion of the sale, the chief executive officer directly owned 339,392 shares of the company’s stock, valued at $6,431,478.40. This represents a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 137,969 shares of company stock worth $2,586,198.

Hedge Funds Weigh In On Bicara Therapeutics

A number of hedge funds have recently modified their holdings of the company. AQR Capital Management LLC purchased a new stake in shares of Bicara Therapeutics in the first quarter worth $248,000. Woodline Partners LP boosted its holdings in Bicara Therapeutics by 26.5% in the 1st quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock worth $4,543,000 after buying an additional 72,998 shares during the period. Geode Capital Management LLC boosted its holdings in Bicara Therapeutics by 36.8% in the 2nd quarter. Geode Capital Management LLC now owns 672,485 shares of the company’s stock worth $6,248,000 after buying an additional 180,833 shares during the period. Police & Firemen s Retirement System of New Jersey increased its stake in Bicara Therapeutics by 119.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,109 shares of the company’s stock worth $75,000 after buying an additional 4,417 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Bicara Therapeutics by 65.3% in the 2nd quarter. Intech Investment Management LLC now owns 27,673 shares of the company’s stock worth $257,000 after buying an additional 10,927 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.