Bank of America Begins Coverage on Bicara Therapeutics (NASDAQ:BCAX)

Research analysts at Bank of America started coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $35.00 price target on the stock. Bank of America‘s price target suggests a potential upside of 84.99% from the company’s previous close.

Other analysts also recently issued research reports about the company. Citigroup began coverage on Bicara Therapeutics in a research note on Thursday, January 29th. They issued an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Bicara Therapeutics in a research report on Wednesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Bicara Therapeutics in a research report on Tuesday, January 13th. UBS Group reissued a “buy” rating on shares of Bicara Therapeutics in a research report on Wednesday, January 14th. Finally, Citizens Jmp started coverage on shares of Bicara Therapeutics in a report on Thursday, January 29th. They set a “market perform” rating and a $31.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bicara Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $28.63.

Bicara Therapeutics Stock Up 1.3%

Shares of NASDAQ:BCAX opened at $18.92 on Wednesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -8.45 and a beta of -0.78. Bicara Therapeutics has a 12 month low of $7.80 and a 12 month high of $20.25. The company’s fifty day simple moving average is $17.07 and its 200 day simple moving average is $16.46.

Insider Buying and Selling

In other Bicara Therapeutics news, insider David Raben sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.52, for a total value of $301,876.00. Following the completion of the transaction, the insider directly owned 55,286 shares in the company, valued at $1,023,896.72. This trade represents a 22.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Claire Mazumdar sold 36,766 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $19.17, for a total value of $704,804.22. Following the transaction, the chief executive officer directly owned 339,392 shares in the company, valued at $6,506,144.64. This trade represents a 9.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 137,969 shares of company stock valued at $2,586,198. 15.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in Bicara Therapeutics during the first quarter worth $248,000. Woodline Partners LP raised its stake in Bicara Therapeutics by 26.5% in the first quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock valued at $4,543,000 after buying an additional 72,998 shares during the period. Geode Capital Management LLC lifted its position in shares of Bicara Therapeutics by 36.8% in the second quarter. Geode Capital Management LLC now owns 672,485 shares of the company’s stock valued at $6,248,000 after buying an additional 180,833 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Bicara Therapeutics by 119.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,109 shares of the company’s stock valued at $75,000 after buying an additional 4,417 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Bicara Therapeutics by 65.3% during the 2nd quarter. Intech Investment Management LLC now owns 27,673 shares of the company’s stock worth $257,000 after acquiring an additional 10,927 shares during the last quarter.

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.