Bicara Therapeutics (NASDAQ:BCAX) Trading Down 8% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX) dropped 8% on Tuesday . The company traded as low as $19.22 and last traded at $19.45. Approximately 137,637 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 349,756 shares. The stock had previously closed at $21.14.

Analysts Set New Price Targets

A number of brokerages have commented on BCAX. TD Cowen initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating for the company. HC Wainwright started coverage on Bicara Therapeutics in a report on Friday, December 6th. They issued a “buy” rating and a $42.00 target price for the company. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Rodman & Renshaw started coverage on Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective for the company. Finally, Morgan Stanley assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Stock Up 3.2 %

The stock’s 50-day simple moving average is $21.47.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($1.14). As a group, equities analysts expect that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Insider Activity

In other Bicara Therapeutics news, Director Ra Capital Management, L.P. bought 1,833,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was bought at an average price 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James E. Flynn acquired 70,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the insider now owns 897,587 shares of the company’s stock, valued at $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cinctive Capital Management LP bought a new position in shares of Bicara Therapeutics during the third quarter worth $229,000. Barclays PLC bought a new position in Bicara Therapeutics during the third quarter worth about $255,000. Jane Street Group LLC bought a new stake in shares of Bicara Therapeutics in the third quarter worth about $309,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Bicara Therapeutics during the third quarter worth about $358,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bicara Therapeutics during the 3rd quarter valued at about $462,000.

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.