Bicara Therapeutics (NASDAQ:BCAX) Hits New 52-Week Low – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.46 and last traded at $13.55, with a volume of 20362 shares changing hands. The stock had previously closed at $14.38.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BCAX shares. Stifel Nicolaus started coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price for the company. Morgan Stanley assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective for the company. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a research report 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 price objective for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bicara Therapeutics presently has an average rating of “Buy” and a consensus target price of $43.00.

Bicara Therapeutics Trading Down 9.4 %

The company’s 50-day moving average is $19.28.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cinctive Capital Management LP bought a new position in Bicara Therapeutics in the third quarter valued at approximately $229,000. Barclays PLC bought a new position in Bicara Therapeutics in the third quarter valued at approximately $255,000. Jane Street Group LLC bought a new position in Bicara Therapeutics in the third quarter valued at approximately $309,000. Teachers Retirement System of The State of Kentucky bought a new position in Bicara Therapeutics in the third quarter valued at approximately $358,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bicara Therapeutics in the third quarter valued at approximately $462,000.

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.