Bicara Therapeutics (NASDAQ:BCAX) Trading Down 5.8% – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price fell 5.8% during mid-day trading on Wednesday . The company traded as low as $17.00 and last traded at $17.10. Approximately 40,717 shares changed hands during trading, a decline of 89% from the average session volume of 354,448 shares. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BCAX. Stifel Nicolaus initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 target price on the stock. Morgan Stanley initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective on the stock. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price for the company. HC Wainwright initiated coverage on Bicara Therapeutics in a research note on Friday, December 6th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bicara Therapeutics presently has a consensus rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Stock Up 1.6 %

The stock has a fifty day moving average price of $20.85.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Trading of Bicara Therapeutics

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