Bicara Therapeutics (NASDAQ:BCAX) Trading Down 4.7% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price fell 4.7% on Thursday . The stock traded as low as $17.52 and last traded at $17.52. 298,296 shares traded 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.

Analyst Ratings Changes

BCAX has been the subject of several recent analyst reports. Stifel Nicolaus started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price for the company. Morgan Stanley started coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective for the company. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target for the company. Finally, TD Cowen assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating on the stock. 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 has an average rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Price Performance

The firm’s fifty day simple moving average is $22.94.

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). Research analysts forecast that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicara Therapeutics

In other news, major shareholder James E. Flynn acquired 70,000 shares of Bicara Therapeutics stock in a transaction on Tuesday, September 17th. The stock was 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 represents a 8.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,833,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the transaction, the director now owns 4,303,418 shares of the company’s stock, valued at $77,461,524. This represents a 74.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Trading of Bicara Therapeutics

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

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.