Bicara Therapeutics (NASDAQ:BCAX) Shares Down 3.2% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) traded down 3.2% during trading on Wednesday . The company traded as low as $12.53 and last traded at $12.26. 4,275 shares were traded during mid-day trading, a decline of 99% from the average session volume of 465,490 shares. The stock had previously closed at $12.66.

Wall Street Analysts Forecast Growth

BCAX has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $13.01 price target on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Wedbush reiterated an “outperform” rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 27th. Stifel Nicolaus set a $48.00 target price on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Finally, HC Wainwright raised their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Seven 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 stock has a consensus rating of “Buy” and a consensus target price of $36.67.

Bicara Therapeutics Stock Down 10.8 %

The business has a fifty day moving average of $13.09 and a two-hundred day moving average of $17.69.

Bicara Therapeutics (NASDAQ:BCAX) last released its earnings results on Thursday, March 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). Analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. purchased a new stake in shares of Bicara Therapeutics in the third quarter valued at $177,169,000. Red Tree Management LLC purchased a new stake in Bicara Therapeutics in the 4th quarter valued at about $55,230,000. FMR LLC acquired a new position in shares of Bicara Therapeutics during the 3rd quarter valued at about $57,913,000. Adage Capital Partners GP L.L.C. boosted its holdings in Bicara Therapeutics by 171.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock valued at $37,893,000 after acquiring an additional 1,375,265 shares during the last quarter. Finally, Braidwell LP grew its position in Bicara Therapeutics by 20.7% during the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company’s stock valued at $34,851,000 after acquiring an additional 343,059 shares during the period.

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.