Bicara Therapeutics (NASDAQ:BCAX) Shares Up 7.9% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price rose 7.9% during trading on Tuesday . The company traded as high as $19.69 and last traded at $19.69. Approximately 83,493 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 362,962 shares. The stock had previously closed at $18.25.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BCAX. Morgan Stanley assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price target on the stock. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating on the stock. Finally, TD Cowen began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bicara Therapeutics presently has an average rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Trading Up 9.8 %

The firm has a fifty day simple moving average of $22.70.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($1.14). Equities analysts predict that Bicara Therapeutics Inc. will post -2.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the 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 completion of the purchase, the director now directly owns 4,303,418 shares of the company’s stock, valued at approximately $77,461,524. The trade was a 74.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was purchased at an average cost of $18.00 per share, with a total value of $1,260,000.00. Following the acquisition, the insider now owns 897,587 shares in the company, valued at approximately $16,156,566. This represents a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Bicara Therapeutics

Institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new position in shares of Bicara Therapeutics in the 3rd quarter valued at $177,169,000. FMR LLC acquired a new position in Bicara Therapeutics in the third quarter worth about $57,913,000. Braidwell LP bought a new position in Bicara Therapeutics during the third quarter worth about $42,219,000. Janus Henderson Group PLC bought a new position in Bicara Therapeutics during the third quarter worth about $30,329,000. Finally, Baker BROS. Advisors LP acquired a new stake in Bicara Therapeutics during the third quarter valued at approximately $21,225,000.

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.