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

Bicara Therapeutics’ (NASDAQ:BCAX) quiet period will expire on Wednesday, October 23rd. Bicara Therapeutics had issued 17,500,000 shares in its initial 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, underwriters and any insiders involved in 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, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

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

Bicara Therapeutics Price Performance

BCAX opened at $21.96 on Friday. Bicara Therapeutics has a 1-year low of $18.33 and a 1-year high of $27.94.

Insider Buying and Selling at Bicara Therapeutics

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

About Bicara Therapeutics

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.