Bicara Therapeutics Inc.’s (NASDAQ:BCAX) Lock-Up Period To Expire Tomorrow

Bicara Therapeutics’ (NASDAQ:BCAX) lock-up period is set to expire on Wednesday, March 12th. Bicara Therapeutics had issued 17,500,000 shares in its initial public offering on September 13th. The total size of the offering was $315,000,000 based on an initial share price of $18.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Ratings Changes

A number of equities research analysts recently commented on BCAX shares. HC Wainwright increased their price target on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $41.20.

Bicara Therapeutics Stock Performance

Shares of Bicara Therapeutics stock opened at $15.36 on Tuesday. Bicara Therapeutics has a 12 month low of $11.10 and a 12 month high of $28.09. The business’s fifty day simple moving average is $13.49.

Institutional Trading of Bicara Therapeutics

Several hedge funds have recently added to or reduced their stakes in BCAX. Vestal Point Capital LP raised its stake in shares of Bicara Therapeutics by 67.1% in the 4th quarter. Vestal Point Capital LP now owns 710,000 shares of the company’s stock valued at $12,368,000 after purchasing an additional 285,000 shares during the period. Wexford Capital LP bought a new position in Bicara Therapeutics during the fourth quarter worth about $348,000. Red Tree Management LLC bought a new position in Bicara Therapeutics during the fourth quarter worth about $55,230,000. Nuveen Asset Management LLC bought a new stake in shares of Bicara Therapeutics during the fourth quarter worth approximately $436,000. Finally, Orbimed Advisors LLC boosted its holdings in shares of Bicara Therapeutics by 9.7% during the fourth quarter. Orbimed Advisors LLC now owns 298,301 shares of the company’s stock worth $5,196,000 after acquiring an additional 26,391 shares during the period.

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.