Bicara Therapeutics (NASDAQ:BCAX) Shares Down 6.2% – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price fell 6.2% on Friday . The stock traded as low as $20.87 and last traded at $20.87. 97,932 shares changed hands during trading, a decline of 72% from the average session volume of 349,358 shares. The stock had previously closed at $22.25.

Analysts Set New Price Targets

Several equities research analysts recently commented on BCAX shares. Morgan Stanley began coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price target on the stock. Rodman & Renshaw started coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price for the company. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price objective for the company. Finally, Cantor Fitzgerald assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $43.33.

Bicara Therapeutics Stock Down 3.7 %

The business’s 50-day moving average price is $23.43.

Bicara Therapeutics (NASDAQ:BCAX) last released its 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). As a group, research analysts forecast that Bicara Therapeutics Inc. will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Bicara Therapeutics in the 3rd quarter worth about $582,000. FMR LLC purchased a new stake in Bicara Therapeutics during the third quarter valued at about $57,913,000. Janus Henderson Group PLC acquired a new stake in shares of Bicara Therapeutics in the third quarter worth $30,329,000. Walleye Capital LLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at about $809,000. Finally, Maven Securities LTD purchased a new stake in Bicara Therapeutics during the 3rd quarter worth $1,274,000.

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.