Bicara Therapeutics (NASDAQ:BCAX) Trading 9.7% Higher – Should You Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX) rose 9.7% on Thursday . The stock traded as high as $12.81 and last traded at $12.90. Approximately 315,621 shares were traded during trading, a decline of 18% from the average daily volume of 384,213 shares. The stock had previously closed at $11.76.

Analysts Set New Price Targets

BCAX has been the topic of several research analyst reports. Rodman & Renshaw started coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price objective on the stock. Morgan Stanley started coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price target for the company. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating for the company. Finally, TD Cowen initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $43.75.

Bicara Therapeutics Stock Performance

The firm’s 50 day simple moving average is $16.65.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). On average, equities research analysts anticipate that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Institutional Trading of Bicara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Spire Wealth Management bought a new stake in Bicara Therapeutics in the fourth quarter valued at approximately $31,000. SG Americas Securities LLC acquired a new stake in shares of Bicara Therapeutics during the fourth quarter valued at about $147,000. Cinctive Capital Management LP bought a new stake in Bicara Therapeutics in the third quarter valued at approximately $229,000. Barclays PLC bought a new stake in Bicara Therapeutics in the third quarter worth approximately $255,000. Finally, Jane Street Group LLC bought a new stake in Bicara Therapeutics in the 3rd quarter valued at about $309,000.

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.