Braidwell LP Acquires New Shares in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Braidwell LP acquired a new stake in Bicara Therapeutics Inc. (NASDAQ:BCAX) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,657,600 shares of the company’s stock, valued at approximately $42,219,000.

Several other large investors have also bought and sold shares of BCAX. The Manufacturers Life Insurance Company acquired a new stake in shares of Bicara Therapeutics during the third quarter valued at about $582,000. Walleye Capital LLC bought a new position in shares of Bicara Therapeutics during the third quarter worth about $809,000. Vestal Point Capital LP bought a new position in shares of Bicara Therapeutics during the third quarter worth about $10,825,000. First Turn Management LLC bought a new stake in Bicara Therapeutics in the third quarter worth approximately $14,324,000. Finally, FMR LLC bought a new stake in Bicara Therapeutics in the third quarter worth approximately $57,913,000.

Bicara Therapeutics Stock Performance

Shares of NASDAQ:BCAX opened at $20.96 on Friday. Bicara Therapeutics Inc. has a 12-month low of $17.41 and a 12-month high of $28.09. The firm’s 50 day moving average is $22.40.

Bicara Therapeutics (NASDAQ:BCAX) last announced its 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). As a group, research analysts predict that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, major shareholder James E. Flynn acquired 70,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were acquired at an average price of $18.00 per share, with a total value of $1,260,000.00. Following the completion of the transaction, the insider now owns 897,587 shares in the company, valued at approximately $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock was acquired at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the transaction, the director now 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 disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BCAX shares. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. TD Cowen began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating for the company. Rodman & Renshaw began coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective for the company. Cantor Fitzgerald began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating for the company. Finally, Stifel Nicolaus began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.33.

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.