Bicara Therapeutics (NASDAQ:BCAX) Issues Earnings Results

Bicara Therapeutics (NASDAQ:BCAX) posted its quarterly earnings data on Tuesday. The company reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14), Zacks reports.

Bicara Therapeutics Stock Performance

NASDAQ:BCAX traded up $0.50 during trading hours on Thursday, reaching $22.50. 53,376 shares of the company’s stock were exchanged, compared to its average volume of 352,404. Bicara Therapeutics has a 12 month low of $18.33 and a 12 month high of $28.09. The stock has a 50-day moving average price of $23.43.

Insider Activity

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating for the company. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target for the company. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating on the stock. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Morgan Stanley started coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $43.33.

Bicara Therapeutics Company Profile

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.