Bicara Therapeutics (NASDAQ:BCAX) Trading Down 6.6% – Should You Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares fell 6.6% during mid-day trading on Tuesday . The stock traded as low as $12.94 and last traded at $12.89. 307,814 shares were traded during mid-day trading, a decline of 30% from the average session volume of 438,531 shares. The stock had previously closed at $13.80.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BCAX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a report on Thursday, March 13th. HC Wainwright upped their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Wedbush reissued an “outperform” rating and set a $31.00 price target on shares of Bicara Therapeutics in a report on Thursday. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.50.

Bicara Therapeutics Stock Performance

The stock has a fifty day simple moving average of $12.98.

Institutional Trading of Bicara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BCAX. California State Teachers Retirement System purchased a new position in shares of Bicara Therapeutics during the fourth quarter worth about $25,000. Spire Wealth Management bought a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new stake in shares of Bicara Therapeutics in the 4th quarter worth about $32,000. Legal & General Group Plc bought a new position in shares of Bicara Therapeutics in the 4th quarter worth approximately $33,000. Finally, Summit Investment Advisors Inc. purchased a new position in Bicara Therapeutics during the fourth quarter valued at $35,000.

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.