Bicara Therapeutics Inc.’s Quiet Period Will End on October 23rd (NASDAQ:BCAX)

Bicara Therapeutics’ (NASDAQ:BCAX) quiet period is set to expire on Wednesday, October 23rd. Bicara Therapeutics had issued 17,500,000 shares in its public offering on September 13th. The total size of the offering was $315,000,000 based on an initial share price of $18.00. During Bicara Therapeutics’ quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

BCAX has been the subject of a number of research analyst reports. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. TD Cowen initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Cantor Fitzgerald began coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating for the company. Finally, Morgan Stanley started coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price on the stock.

Bicara Therapeutics Stock Performance

Shares of Bicara Therapeutics stock opened at $20.00 on Wednesday. Bicara Therapeutics has a 12 month low of $18.33 and a 12 month high of $27.94.

Insider Buying and Selling at Bicara Therapeutics

In related news, Director Ra Capital Management, L.P. bought 1,833,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the acquisition, the director now directly owns 4,303,418 shares of the company’s stock, valued at $77,461,524. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bicara Therapeutics news, major shareholder James E. Flynn bought 70,000 shares of Bicara Therapeutics stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of $18.00 per share, with a total value of $1,260,000.00. Following the completion of the purchase, the insider now owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was bought at an average price of $18.00 per share, with a total value of $32,994,000.00. Following the completion of the acquisition, the director now directly owns 4,303,418 shares in the company, valued at approximately $77,461,524. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Bicara Therapeutics Company Profile

Bicara Therapeutics Inc, a clinical-stage biopharmaceutical company, develops bifunctional therapies for solid tumors. Its lead program is ficerafusp alfa, a bifunctional antibody that combines an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-b) for the treatment of solid tumors.