Bicara Therapeutics (NASDAQ:BCAX) Shares Down 4.1% – Here’s What Happened

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) dropped 4.1% during mid-day trading on Thursday . The company traded as low as $12.35 and last traded at $12.39. Approximately 237,476 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 381,444 shares. The stock had previously closed at $12.92.

Analyst Ratings Changes

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

Bicara Therapeutics Price Performance

The stock’s 50-day simple moving average is $18.11.

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

Institutional Trading of Bicara Therapeutics

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Bicara Therapeutics during the 4th quarter worth approximately $147,000. Barclays PLC acquired a new stake in Bicara Therapeutics in the third quarter valued at $255,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $358,000. Geode Capital Management LLC acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at about $1,239,000. Finally, Jane Street Group LLC bought a new position in Bicara Therapeutics during the third quarter worth 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.