Bicara Therapeutics (NASDAQ:BCAX) Sets New 52-Week High – Time to Buy?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) reached a new 52-week high on Wednesday . The stock traded as high as $28.08 and last traded at $26.11, with a volume of 2883 shares traded. The stock had previously closed at $25.19.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BCAX. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $48.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating for the company. TD Cowen initiated coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus started coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective 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.com, the company currently has a consensus rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Stock Down 0.7 %

Insider Activity at Bicara Therapeutics

In related news, major shareholder James E. Flynn bought 70,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the transaction, the insider now directly owns 897,587 shares in the company, valued at approximately $16,156,566. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder James E. Flynn purchased 70,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the transaction, the insider now directly owns 897,587 shares in the company, valued at approximately $16,156,566. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the 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 acquisition, the director now owns 4,303,418 shares of the company’s stock, valued at approximately $77,461,524. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Bicara Therapeutics

An institutional investor recently bought a new position in Bicara Therapeutics stock. First Turn Management LLC purchased a new stake in Bicara Therapeutics Inc. (NASDAQ:BCAX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 562,391 shares of the company’s stock, valued at approximately $14,324,000. Bicara Therapeutics makes up about 2.3% of First Turn Management LLC’s portfolio, making the stock its 24th largest holding. First Turn Management LLC owned approximately 1.09% of Bicara Therapeutics at the end of the most recent reporting period.

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.