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

Bicara Therapeutics' (NASDAQ:BCAX - Get Free Report) quiet period will 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, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration 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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BCAX. Stifel Nicolaus began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a "buy" rating and a $47.00 target price for the company. Cantor Fitzgerald began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an "overweight" rating for the company. Morgan Stanley began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an "overweight" rating and a $35.00 price target on the stock. Finally, TD Cowen began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a "buy" rating on the stock.

Bicara Therapeutics Trading Up 1.0 %

Shares of NASDAQ:BCAX traded up $0.20 on Wednesday, reaching $20.20. The company had a trading volume of 226,888 shares, compared to its average volume of 413,047. Bicara Therapeutics has a 52-week low of $18.33 and a 52-week high of $27.94.

Insider Activity

In related news, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the acquisition, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bicara Therapeutics 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 shares were purchased at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the purchase, the director now directly owns 4,303,418 shares in the company, valued at $77,461,524. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James E. Flynn bought 70,000 shares of the company'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 purchase, the insider now owns 897,587 shares in the company, valued at $16,156,566. The trade was 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.