Bicara Therapeutics (NASDAQ:BCAX) Shares Down 4.7% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX) traded down 4.7% during mid-day trading on Thursday . The company traded as low as $17.52 and last traded at $17.52. 298,296 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 359,316 shares. The stock had previously closed at $18.38.

Wall Street Analysts Forecast Growth

BCAX has been the topic of several research reports. Stifel Nicolaus began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price on the stock. Morgan Stanley assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating on the stock. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating for the company. Five 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, the stock presently has an average rating of “Buy” and an average price target of $43.33.

Bicara Therapeutics Price Performance

The business has a 50-day moving average price of $23.06.

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 analysts’ consensus estimates of ($0.46) by ($1.14). On average, research analysts predict that Bicara Therapeutics Inc. will post -2.89 EPS for the current year.

Insider Transactions at Bicara Therapeutics

In other news, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction dated 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 acquisition, the insider now directly owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. This represents a 8.46 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of Bicara Therapeutics stock in a transaction dated 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 transaction, the director now owns 4,303,418 shares in the company, valued at approximately $77,461,524. This trade represents a 74.20 % increase in their position. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

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

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.