Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 5.5% – Should You Buy?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) were up 5.5% during trading on Thursday . The stock traded as high as $12.71 and last traded at $13.08. Approximately 11,501 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 454,296 shares. The stock had previously closed at $12.40.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BCAX. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.01 price target on shares of Bicara Therapeutics in a report on Thursday, March 13th. Wedbush reissued an “outperform” rating and issued a $31.00 target price on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. Finally, HC Wainwright increased their price target on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.50.

Bicara Therapeutics Trading Up 1.1 %

The company has a 50-day moving average price of $12.96.

Institutional Trading of Bicara Therapeutics

Several hedge funds have recently modified their holdings of BCAX. California State Teachers Retirement System bought a new stake in Bicara Therapeutics during the 4th quarter worth approximately $25,000. Spire Wealth Management bought a new stake in shares of Bicara Therapeutics during the fourth quarter worth $31,000. BNP Paribas Financial Markets bought a new stake in shares of Bicara Therapeutics during the fourth quarter worth $32,000. Legal & General Group Plc acquired a new stake in shares of Bicara Therapeutics in the fourth quarter valued at $33,000. Finally, Summit Investment Advisors Inc. bought a new position in shares of Bicara Therapeutics in the fourth quarter valued at about $35,000.

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.