Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.43, read 2026-10-25
Ethical does not pass the values gate
Price9.76 USD
Fair value35.22
Ethical score70.0/100
Our investment reviews on this name
2026-07-02Read Markdown21.69-55.0% to today ✓First review on file: Markdown
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Bicara Therapeutics Inc. holds its Markdown at $9.76. Consolidating, no directional conviction, held for 48 days.
As held on the ledger · 2026-10-28
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 48 days
Price at the screen
$9.76
Valuation
N/A trailing · -5.00 forward price to earnings
Values screen
FAIL· score 70.0
Beta
-0.69
The Workings
Five Screens, Shown in Full
Does not pass. Interest-bearing securities
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.40%
Below 33%
Interest-bearing debt is just 0.4% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
73.81%
Below 33%
Interest-bearing cash and securities are 73.8% of assets, above the one-third limit.
Fail
Receivables
22.43%
Below 49%
Money owed to the company is 22.4% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Bicara Therapeutics's business is fine, but its cash and interest-bearing securities are about 74% of its assets, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Get an email when BCAX's ethical verdict changes
Today BCAX does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-28 screen. The gold marker is the market price at the same screen. A 100.0% margin of safety to the base estimate.
Third-party analyst targets: 12 covering, consensus Strong Buy. The average target sits +264% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-28 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Early Stage Cancer Drug Bet Lacks Numbers
Picture a lab racing to turn one antibody into a solid tumour treatment while the books show nothing yet. Bicara sits at this stage with zero profit margin, a negative 32 percent return on equity and a forward multiple that reflects losses rather than earnings. The ethical screen returns insufficient data because basic financial ratios are missing, so we pass.
Thirteen analysts set a median target at the same level as our own fair value, yet the opportunity rating stays none. Clinical progress on the lead bifunctional antibody may or may not translate into approved revenue, and the company offers no moat visibility at present. Without a track record of cash generation the valuation gap means little.
Risks centre on binary trial outcomes, dilution to fund further studies and the usual early biotech cash burn. Currency or regulatory shifts can wipe out any apparent margin of safety quickly. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BCAX trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-26Markdown$17.61+0.6%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (13 analysts) rates it buy, with a mean price target of $31.
2026-10-13Markdown$17.50-20.5%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 20.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 27% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (13 analysts) rates it buy, with a mean price target of $31.
2026-10-02Markdown$22.01-10.6%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 10.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 27% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (13 analysts) rates it buy, with a mean price target of $31.
2026-08-22Markdown$24.63-11.3%Entry 5
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 11.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 27% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (13 analysts) rates it buy, with a mean price target of $31.
2026-07-22Markdown$27.76+28.0%Entry 4
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 28.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 27% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (13 analysts) rates it buy, with a mean price target of $31.
2026-07-18Markdown$21.69+0.0%Entry 3
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 27% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (13 analysts) rates it buy, with a mean price target of $31.
2026-07-03Markdown$21.69+0.0%Entry 2
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markdown$21.69Entry 1
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
