Bicara Therapeutics Inc. (BCAX) Stock Price & Analysis
Bicara Therapeutics Inc. (BCAX) closed at USD 9.76 on Wednesday, October 28, 2026, down 44.16% on the day. The US market is currently closed (after-hours); this is not a live price.
The prior close was USD 17.48; the Oct 28, 2026 session ranged USD 8.9–17.57 on volume of 15,376,724 shares. Market capitalization is $645.85M, with a 52-week range of USD 8.9–30.99 (NGM). Source: Nexqual, retrieved October 28, 2026 at 23:29 UTC.
Also available as compact Markdown for AI agents: nexqual.com/BCAX.md
Key facts (BCAX)
- Analysts: Buy (mean 1.86 on a 1–5 scale) (14 analysts), mean target USD 35.67 (range 20–45).
- Total return with dividends: 1Y -38.5% vs S&P 500 +13.6%; 5Y -58.3% vs S&P 500 +79.8%.
- Next earnings: 2026-11-10, EPS estimate USD -0.82, revenue estimate $0K.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (BCAX)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Operating income | -$39.9M | -$82.4M | -$156M | -$202M |
| Net income | -$52.0M | -$68.0M | -$138M | -$185M |
| EPS (diluted) | -$89.61 | -$4.05 | -$2.52 | — |
| Free cash flow | -$46.2M | -$74.8M | -$107M | -$135M |
| Cash + short-term investments | $230M | $490M | $415M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (BCAX)
P/B 1.4x · FCF yield -20.94% · Earnings yield -28.70%
Analysts (BCAX)
Consensus Buy (mean 1.86 on a 1–5 scale), 14 analysts; mean target USD 35.67 (low 20, high 45).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | BTIG | Reiterated | Buy | $39 |
| 2026-08-19 | BMO Capital | Initiated | Outperform | $35 |
| 2026-08-12 | Goldman Sachs | Target raised | Neutral | $18 → $20 |
| 2026-08-12 | Wedbush | Target raised | Outperform | $30 → $33 |
| 2026-08-12 | Morgan Stanley | Target raised | Overweight | $37 → $39 |
| 2026-08-12 | Mizuho | Target raised | Neutral | $18 → $20 |
| 2026-08-12 | Wells Fargo | Target raised | Equal-Weight | $16 → $23 |
| 2026-08-12 | BTIG | Target raised | Buy | $28 → $39 |
Total return (dividends reinvested) (BCAX)
| 1Y (from 2025-10-29) | 5Y (from 2024-09-09) | |
|---|---|---|
| Total return | -38.5% | -58.3% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -38.6% | -33.6% |
| Volatility (annualized) | 79.6% | 88.3% |
| Max drawdown | -67.9% (Jul 2026→Oct 2026) | -66.3% (Jun 2026→Oct 2026) |
BCAX earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 11, 2026 | Quarter ended Jun 30, 2026 | −$0.82 | −$0.83 | Beat +1.2% | -11.2% |
| May 11, 2026 | Quarter ended Mar 31, 2026 | −$0.93 | −$0.65 | Miss −43.1% | -0.9% |
| Mar 30, 2026 | Quarter ended Dec 31, 2025 | −$0.68 | −$0.65 | Miss −4.6% | +8.3% |
| Feb 26, 2026 | Quarter ended Dec 31, 2025 | −$0.68 | −$0.65 | Miss −4.6% | -4.2% |
| Nov 10, 2025 | Quarter ended Sep 30, 2025 | −$0.67 | −$0.53 | Miss −26.4% | +0.6% |
| Aug 12, 2025 | — | — | — | — | +13.4% |
| May 13, 2025 | — | — | — | — | -3.5% |
| Mar 27, 2025 | — | — | — | — | +2.3% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
BCAX recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 7, 2026 | Schedule 13G/A | T. Rowe Price Investment Management, Inc.: 4.2% of shares, passive 5%+ holder (amended) |
| Aug 25, 2026 | 8-K | Entered a material agreement “On August 21, 2026, Bicara Therapeutics Inc. (the "Company") entered into a Sub-Sublease Agreement (the "Sublease") with Wayfair LLC, as sublandlord (the "Sublandlord"), pursuant to which the Company, as subtenant, will lease approximately 35,090 square feet of office space for new corporate headquarters to be located at 10 St. James Avenue, Boston, Massachusetts 02116. The Sublease term commences on the later of (i) October 1, 2026 and (ii) the date of full execution of a consent between the Company, the…” |
| Aug 13, 2026 | Schedule 13G/A | JANUS HENDERSON GROUP Ltd.: 4.8% of shares, passive 5%+ holder (amended) |
| Aug 11, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 11, 2026 | 8-K | Quarterly results |
| Jul 28, 2026 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure “Resignation of Kiran Mazumdar-Shaw On July 23, 2026, Kiran Mazumdar-Shaw resigned from the Board of Directors (the "Board") of Bicara Therapeutics Inc. (the "Company") and her position on the Nominating and Corporate Governance Committee of the Board (the "Nominating and Corporate Governance Committee"), effective as of July 28, 2026. Ms. Mazumdar-Shaw's decision to resign from the Board was not the result of any disagreement with the Company on any matter relating to the operations, policies or practices of the…” |
| Jul 27, 2026 | Schedule 13G | BlackRock, Inc.: 5.4% of shares, passive 5%+ holder |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
BCAX suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | MSD International | “On May 19, 2022, we entered into a Clinical Trial Collaboration and Supply Agreement, or the MSD Agreement, with MSD International GmbH, or MSDIG, and MSD International Business GmbH, MSDIB, and collectively with MSDIG, MSD.” |
| Supplier | MSD International Business | “On May 19, 2022, we entered into a Clinical Trial Collaboration and Supply Agreement, or the MSD Agreement, with MSD International GmbH, or MSDIG, and MSD International Business GmbH, MSDIB, and collectively with MSDIG, MSD.” |
| Supplier | WuXi | “Although we believe that there are several potential alternative manufacturers who could manufacture our product candidates, we primarily rely on WuXi Biologics (Hong Kong) Limited for the production of product necessary to complete our ongoing clinical trials.” |
| Partner | Biocon | “On October 1, 2019, we entered into a Contract Transfer and License Agreement, or the Biocon Agreement, with Biocon Limited, or Biocon.” |
| Partner | LLC and BofA Securities | “In February 2026, we entered into an underwriting agreement with Morgan Stanley & Co. LLC, TD Securities (USA) LLC and BofA Securities, Inc., as representatives of the underwriters named therein, pursuant to which we issued and sold an aggregate of 8,581,250 shares of our common stock at a price to the public of $16.00 per share, which included full exercise of the underwriters' option to purchase 1,406,250 additi…” |
| Partner | Huntington | “Our corporate headquarters are currently located in Boston, Massachusetts, where we lease a total of 9,361 square feet at 116 Huntington Avenue pursuant to an Office Lease Agreement with Columbia REIT - 116 Huntington, LLC, dated August 16, 2023, as amended, or the Lease, for 9,361 square feet and a Sublease Agreement with J.W.” |
| Competitor | Merck (MRK) | “We expect to compete with currently commercially available therapies for the treatment of HNSCC, including pembrolizumab (marketed as Keytruda by Merck & Co); the combination of pembrolizumab, platinum chemotherapy and 5-fluorouracil; and the combination of cetuximab (marketed as Erbitux by Eli Lilly & Company in the U.S. and by Merck KGaA outside of the U.S.), platinum chemotherapy and 5-fluorouracil.” |
| Competitor | Eli Lilly (LLY) | “We expect to compete with currently commercially available therapies for the treatment of HNSCC, including pembrolizumab (marketed as Keytruda by Merck & Co); the combination of pembrolizumab, platinum chemotherapy and 5-fluorouracil; and the combination of cetuximab (marketed as Erbitux by Eli Lilly & Company in the U.S. and by Merck KGaA outside of the U.S.), platinum chemotherapy and 5-fluorouracil.” |
Quoted from the company's 10-K filed Mar 30, 2026.
BCAX company outlook (results filed Aug 11, 2026)
- “Cohlhepp's direction as the company prepares for the potential commercialization of ficerafusp alfa in first-line (1L) recurrent or metastatic (R/M) human papillomavirus (HPV)-negative head and neck squamous cell carcinoma (HNSCC), with topline data from an interim analysis of the FORTIFI-HN01 pivotal trial expected in mid-2027. • Tanya Green, Chief Development Officer, will succeed Dr.”
- “The company expects to have results from this study by the time of a potential U.S. accelerated approval in 1L R/M HPV-negative HNSCC. • Presented extended follow-up data out to three years from the Phase 1/1b study of ficerafusp alfa in combination with pembrolizumab in 1L R/M HPV-negative HNSCC at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting.”
- “Key Anticipated Upcoming Milestones HNSCC • Continued to enroll Phase 3 of the FORTIFI-HN01 pivotal trial in 1L R/M HPV-negative HNSCC and expect to be substantially enrolled by the end of the year to enable topline results from an interim analysis in mid-2027.”
- “Based on its current operating and development plans, the company expects that its existing cash, cash equivalents and marketable securities will fund operations into the first half of 2029. • Research and Development Expenses: Research and development expenses were $45.8 million for the second quarter of 2026 as compared to $24.8 million for the second quarter of 2025.”
Quoted word-for-word from the SEC 8-K results press release.
BCAX analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.82 | $-0.85 | +$0.03 | $0 | 12 |
| Next quarter (ends Dec 2026) | $-0.85 | $-0.89 | +$0.04 | $0 | 12 |
| Current fiscal year (ends Dec 2026) | $-3.39 | $-3.48 | +$0.09 | $0 | 12 |
| Next fiscal year (ends Dec 2027) | $-3.52 | $-3.63 | +$0.11 | $0 | 11 |
BCAX options: expected move
Options price a move of about ±41.6% (±$3.95) by Nov 20, 2026, which includes earnings on Nov 10, 2026. Over the last 8 reports the stock moved ±5.6% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 23 | 145.5% | ±41.6% |
| Dec 18, 2026 | 51 | 154.7% | ±92.6% |
| Jan 15, 2027 | 79 | 143.3% | ±212.6% |
| Mar 19, 2027 | 142 | 153.1% | ±178.9% |
| Apr 16, 2027 | 170 | 145.2% | ±178.4% |
30-day implied volatility 99.4% vs 174.6% realized over the last 30 trading days. Put/call ratio (volume) 0.03. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 28, 2026 at 23:29 UTC)
| Price | USD 9.76 |
|---|---|
| Change | ▼ 44.16% (down) |
| Previous Close | USD 17.48 |
| Open | USD 17.37 |
| Day Range | USD 8.9 – 17.57 |
| 52-Week Range | USD 8.9 – 30.99 |
| Volume | 15,376,724 shares |
| Market Cap | $645.85M |
| Exchange | NGM |
Technical Analysis (BCAX)
Nexqual's technical model rates BCAX "SELL" based on 3 bullish and 5 bearish signals across 127 daily candles, as of October 28, 2026 at 23:29 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 17.98 (oversold) |
| vs SMA50 | Below (USD 20.37) |
| MACD | -1.47 (negative) |
Analyst Ratings (BCAX)
Wall Street analysts rate BCAX "Buy" based on 14 analysts, with a mean price target of USD 35.67 (range USD 20–45), per Nexqual as of October 28, 2026 at 23:29 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 14 |
| Mean Target | USD 35.67 |
| High Target | USD 45 |
| Low Target | USD 20 |
| Buy / Hold / Sell | 13 / 1 / 0 |
Earnings (BCAX)
| Next Earnings Date | 2026-11-10 |
|---|---|
| EPS Estimate | USD -0.82 |
| Revenue Estimate | $0 |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.82 vs est -0.83 ▲ beat |
| 2026-03-31 | USD -0.93 vs est -0.65 ▼ miss |
| 2025-12-31 | USD -0.68 vs est -0.65 ▼ miss |
| 2025-09-30 | USD -0.67 vs est -0.53 ▼ miss |
Source: Nexqual, October 28, 2026 at 23:29 UTC.
Financials & Fundamentals (BCAX)
| Gross Margin | +0.00% |
|---|---|
| Operating Margin | +0.00% |
| Profit Margin | +0.00% |
| ROE | -41.01% |
| Debt / Equity | 0 |
| Current Ratio | 11.59 |
| Total Cash | $497.26M |
| Total Debt | $1.16M |
Source: Nexqual, October 28, 2026 at 23:29 UTC.
Financial Health Score (BCAX)
Nexqual rates Bicara Therapeutics Inc.'s overall financial health "Mixed" across five dimensions, as of October 28, 2026 at 23:29 UTC.
| Growth | Mixed — No data |
|---|---|
| Profitability | Weak — Pre-revenue or very early stage |
| Balance Sheet | Strong — $497M cash vs $1M debt, net cash position |
| Cash Flow | Weak — Operating cash flow -$107M (FY ended Dec 2025, 10-K) |
| Efficiency | Critical — ROE -40%, ROA -36.2% (last 4 quarters, SEC) |
Ownership (BCAX)
| Insider Ownership | +10.07% |
|---|---|
| Institutional Ownership | +102.47% |
| Shares Outstanding | 66.17M |
| Float | 36.90M |
| Short % of Float | +21.68% |
Source: Nexqual, October 28, 2026 at 23:29 UTC.
Leadership (BCAX)
Bicara Therapeutics Inc. is led by Claire Mazumdar Clemon, CEO & Director, per Nexqual as of October 28, 2026 at 23:29 UTC.
| CEO & Director | Claire Mazumdar Clemon |
|---|---|
| President, COO & Director | Ryan Cohlhepp Pharm.D. |
| CFO, Treasurer & Principal Accounting Officer | Jennifer Larson |
| Vice President of Investor Relations and Corporate Communications | Rachel Frank |
| Senior Vice President of Clinical & Medical Affairs | Jeltje Schulten |
Major Backers & Investors (BCAX)
Notable institutional backers of Bicara Therapeutics Inc. include RA Capital Management, L.P., T. Rowe Price, Siren, L.L.C., according to Nexqual as of October 28, 2026 at 23:29 UTC.
Active Investors
| Investor | Stake |
|---|---|
| RA Capital Management, L.P. | 10.97% |
| T. Rowe Price | 9.58% |
| Siren, L.L.C. | 8.47% |
| Vestal Point Capital, LP | 7.93% |
| Deep Track Capital, Lp | 6.2% |
| Jupiter Topco LLC | 4.79% |
| TPG GP A, LLC | 4.55% |
| Red Tree Management, LLC | 4.41% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 5.82% |
| Vanguard Group | 3.35% |
Source: Nexqual, October 28, 2026 at 23:29 UTC.
From Bicara Therapeutics Inc.'s Latest SEC 10-K Filing (filed 2026-03-30)
Key Strengths & Strategy (as disclosed to the SEC)
- We seek to protect the intellectual property and proprietary technology that we consider important to our business, including by pursuing patent applications that cover our product candidates and methods of using the same, as well as any other relevant inventions and improvements that we believe to be commercially important to the development of our business.
- We also rely on trade secrets, know-how and continuing technological innovation to develop and maintain our proprietary and intellectual property position.
- As with other biotechnology and pharmaceutical companies, our ability to maintain and solidify our proprietary and intellectual property position for our product candidates and technologies will depend on our success in obtaining effective patent claims and enforcing those claims if granted.
- We have built a platform designed to facilitate the development of bifunctional therapies that precisely target the tumor and deliver a tumor-modulating payload to the tumor site.
Partnerships
- In connection with the Biocon Agreement, we paid INR 550 million as consideration for the license grant.
Legal & Regulatory Risks (Item 1A, quoted)
- We may be required to suspend, repeat or terminate our clinical trials if they are not conducted in accordance with regulatory requirements, the results are negative or inconclusive or the trials are not well designed.
- We intend to develop our product candidates in part in combination with other therapies and may develop our future product candidates in combination with other therapies, which exposes us to additional regulatory risks.
- We may also evaluate ficerafusp alfa or any future product candidates in combination with one or more other cancer therapies that have not yet been approved for marketing by the FDA, Health Canada, the EMA or comparable foreign regulatory authorities.
- The FDA and other regulatory authorities' policies may change, and additional government regulations may be enacted that could prevent, limit or delay marketing approval of a product.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| ORKA | Oruka Therapeutics, Inc. | USD 95.97 | ▲ 0.17% |
| LGND | Ligand Pharmaceuticals Incorpor | USD 318.78 | ▲ 2.26% |
| IOVA | Iovance Biotherapeutics, Inc. | USD 14.81 | ▲ 1.58% |
| IONS | Ionis Pharmaceuticals, Inc. | USD 44.9 | ▲ 2.14% |
| AXSM | Axsome Therapeutics, Inc. | USD 143.51 | ▲ 0.92% |
| ABVX | Abivax SA | USD 89.84 | ▲ 3.26% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 28, 2026 at 23:29 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt