Bicara Therapeutics

BCAX • XNAS

Bicara Therapeutics is a pharmaceutical preparations company on XNAS, led by Claire Mazumdar, with a market cap of $1.0B. As of Q3 2025, 92% of shares are held by 113 institutional investors, with RA CAPITAL MANAGEMENT, LLC as the largest holder at 12.75%.

Chief Executive OfficerClaire Mazumdar

Market Cap$1.0B

PHARMACEUTICAL PREPARATIONS

Overview

Overview of institutional ownership in BCAX as of Q3 2025 with a market cap of $861.5M

All Institutions

Institutions: 113
Value Held: $789.4M
Shares Held: 50.2M
Avg Position: $7.0M
Median Position: $576.6K

Hedge Funds

Hedge Funds: 20
Value Held: $281.2M
Shares Held: 17.8M
Avg Position: $14.1M
Median Position: $2.1M

Ownership Breakdown

Institutional (non-HF)

58.99%

$508.2M

Hedge Funds

32.64%

$281.2M

Retail & Other

8.37%

$72.1M

Based on market cap of $861.5M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BCAX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	$109.8M 1.36% of portfolio	12.75% 7.0M shares	Q3 2024 Held for 1y 2m	$8.1B
S Siren, L.L.C. Institution	-	$82.4M 3.45% of portfolio	9.56% 5.2M shares	Q3 2024 Held for 1y 2m	$2.4B
Vestal Point Capital, LP Hedge Fund•Long/Short	Ryan Christopher Wilder CIO	$80.5M 4.09% of portfolio	9.35% 5.1M shares	Q3 2024 Held for 1y 2m	$2.0B
R Red Tree Management, LLC Institution	-	$50.1M 60.39% of portfolio	5.81% 3.2M shares	Q4 2024 Held for 11 months	$82.9M
T TPG GP A, LLC Institution	-	$47.5M 2.59% of portfolio	5.52% 3.0M shares	Q3 2024 Held for 1y 2m	$1.8B
FMR LLC Institution	-	$42.6M 0.00% of portfolio	4.95% 2.7M shares	Q3 2024 Held for 1y 2m	$1.92T
Deep Track Capital, LP Hedge Fund•Long/Short	David Eric Kroin CIO	$38.3M 1.09% of portfolio	4.45% 2.4M shares	Q3 2024 Held for 1y 2m	$3.5B
B BlackRock, Inc. Institution	-	$36.5M 0.00% of portfolio	4.24% 2.3M shares	Q4 2024 Held for 11 months	$5.67T
Omega Fund Management Inc. Venture Capital	Alexandra Rankel Pearsall CFO	$34.8M 15.66% of portfolio	4.04% 2.2M shares	Q3 2024 Held for 1y 2m	$222.4M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$34.8M 0.00% of portfolio	4.03% 2.2M shares	Q3 2024 Held for 1y 2m	$6.69T

Net Capital Flow

Institutional buying and selling activity for BCAX in Q3 2025

Traded: +$4.1M
Buyers: 67
Sellers: 40
Total Bought: +$52.7M
Total Sold: −$48.6M
Avg Position: $6.1M

Biggest Buyers

Institution	Net Bought	Current Position
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$7.3M +464.7K shares	$7.3M 464.7K shares
Clearbridge Investments, LLC Long Only Manager	+$5.1M +324.3K shares	$5.1M 324.3K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$4.3M +273.9K shares	$16.0M 1.0M shares
SILVERARC CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	+$4.0M +250.6K shares	$4.0M 250.6K shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	+$3.8M +241.3K shares	$8.0M 504.1K shares
B BlackRock, Inc. Institution	+$3.2M +200.5K shares	$36.5M 2.3M shares
VANGUARD GROUP INC Institution	+$3.1M +195.7K shares	$34.8M 2.2M shares
FMR LLC Institution	+$2.5M +160.0K shares	$42.6M 2.7M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$2.5M +158.7K shares	$13.1M 831.2K shares
Vestal Point Capital, LP Hedge Fund•Long/Short	+$1.6M +100.0K shares	$80.5M 5.1M shares

Biggest Sellers

Institution	Net Sold	Current Position
Foresite Capital Management VI LLC Venture Capital	−$8.8M −949.3K shares	Sold Off 0 shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$6.2M −394.9K shares	$27.7M 1.8M shares
Artisan Partners Limited Partnership Long Only Manager	−$3.7M −402.8K shares	Sold Off 0 shares
Logos Global Management LP Hedge Fund•Long/Short	−$3.7M −400.0K shares	Sold Off 0 shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	−$3.5M −251.7K shares	$2.4M 173.7K shares
F FIL Ltd Institution	−$3.3M −210.1K shares	$12.7M 803.8K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$2.9M −186.7K shares	$475.9K 30.1K shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	−$2.5M −270.2K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$2.1M −221.5K shares	Sold Off 0 shares
MORGAN STANLEY RIA/Wealth	−$1.6M −104.4K shares	$1.6M 100.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BCAX in Q3 2025

New Positions: 19
New Value: $20.9M
Exited Positions: 16
Exited Value: $26.7M

New Positions

Institution	Position Value
T T. Rowe Price Investment Management, Inc. Insurance Manager	$7.3M 464.7K shares
Clearbridge Investments, LLC Long Only Manager	$5.1M 324.3K shares
SILVERARC CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	$4.0M 250.6K shares
C CANTOR FITZGERALD, L. P. Institution	$1.6M 100.0K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$850.8K 53.9K shares
Bleakley Financial Group, LLC RIA/Wealth	$481.2K 30.5K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$295.7K 18.7K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$277.7K 17.6K shares
L LPL Financial LLC Institution	$225.8K 14.3K shares
A Ascent Group, LLC Institution	$220.0K 13.9K shares

Exited Positions

Institution	Previous Position
Foresite Capital Management VI LLC Venture Capital	$8.8M 949.3K shares
Artisan Partners Limited Partnership Long Only Manager	$3.7M 402.8K shares
Logos Global Management LP Hedge Fund•Long/Short	$3.7M 400.0K shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	$2.5M 270.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.1M 221.5K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$1.6M 171.0K shares
C Cubist Systematic Strategies, LLC Institution	$952.5K 102.5K shares
S Skandinaviska Enskilda Banken AB Institution	$921.9K 99.2K shares
Catalio Capital Management, LP Venture Capital	$908.6K 97.8K shares
Atom Investors LP Hedge Fund•Market Neutral	$512.3K 55.1K shares

Options Activity

Institutions with the largest Call and Put options positions in BCAX as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 1
Put Value: $205.3K

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$205.3K 130.0 contracts

Most Committed Institutions

Institutions with BCAX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
R Red Tree Management, LLC Institution	-	60.39% $50.1M	5.81% 3.2M shares	Q4 2024 Held for 11 months	$82.9M
Omega Fund Management Inc. Venture Capital	Alexandra Rankel Pearsall CFO	15.66% $34.8M	4.04% 2.2M shares	Q3 2024 Held for 1y 2m	$222.4M
A ACORN CAPITAL ADVISORS, LLC Venture Capital	Anthony Michael Gallo CCO	5.16% $10.2M	1.18% 643.4K shares	Q4 2024 Held for 11 months	$197.0M
Vestal Point Capital, LP Hedge Fund•Long/Short	Ryan Christopher Wilder CIO	4.09% $80.5M	9.35% 5.1M shares	Q3 2024 Held for 1y 2m	$2.0B
S Siren, L.L.C. Institution	-	3.45% $82.4M	9.56% 5.2M shares	Q3 2024 Held for 1y 2m	$2.4B
S SUPERSTRING CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	Guo Ting Managing Partner	2.74% $2.8M	0.32% 175.9K shares	Q2 2025 Held for 5 months	$101.5M
SECTORAL ASSET MANAGEMENT INC Venture Capital	Jerome Georges Pfund CEO	2.64% $4.2M	0.49% 266.5K shares	Q2 2025 Held for 5 months	$159.6M
T TPG GP A, LLC Institution	-	2.59% $47.5M	5.52% 3.0M shares	Q3 2024 Held for 1y 2m	$1.8B
A Aisling Capital Management LP Private Equity	Steven Arnote Elms President	1.97% $9.0M	1.04% 568.9K shares	Q3 2024 Held for 1y 2m	$456.4M
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	1.36% $109.8M	12.75% 7.0M shares	Q3 2024 Held for 1y 2m	$8.1B

Hedge Fund Spotlight

Discover hedge funds investing in BCAX

ExodusPoint Capital Management, LP

Hedge Fund • Multi-Strategy

Portfolio ManagerMichael Robert Gelband

Portfolio Value: $7.1B
Positions: 1,351
Last Reported: Q3 2025

Sector Allocation

Position in Bicara Therapeutics

Market Value: $850.8K
Shares Held: 53.9K
Portfolio Weight: 0.01%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
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3 Nvidia NVDA	Semiconductors Technology	$79.9M	1.12%