Bicara Therapeutics (NASDAQ:BCAX) Trading Down 6.2% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares were down 6.2% during trading on Friday . The stock traded as low as $20.87 and last traded at $20.87. Approximately 97,932 shares were traded during trading, a decline of 72% from the average daily volume of 349,358 shares. The stock had previously closed at $22.25.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BCAX. Morgan Stanley initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective on the stock. TD Cowen started coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price objective for the company. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Stock Performance

The firm’s fifty day moving average price is $23.33.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, analysts anticipate that Bicara Therapeutics Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicara Therapeutics

In other news, major shareholder James E. Flynn purchased 70,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the purchase, the insider now directly owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $18.00 per share, with a total value of $32,994,000.00. Following the completion of the transaction, the director now owns 4,303,418 shares of the company’s stock, valued at approximately $77,461,524. This trade represents a 74.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Bicara Therapeutics

Several hedge funds have recently bought and sold shares of BCAX. RA Capital Management L.P. acquired a new position in Bicara Therapeutics in the 3rd quarter valued at about $177,169,000. FMR LLC acquired a new position in shares of Bicara Therapeutics in the third quarter valued at approximately $57,913,000. Braidwell LP purchased a new stake in Bicara Therapeutics during the 3rd quarter worth approximately $42,219,000. Janus Henderson Group PLC acquired a new stake in Bicara Therapeutics during the 3rd quarter worth approximately $30,329,000. Finally, Baker BROS. Advisors LP purchased a new position in Bicara Therapeutics in the 3rd quarter valued at approximately $21,225,000.

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.