Bicara Therapeutics (NASDAQ:BCAX) Reaches New 52-Week Low – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) hit a new 52-week low on Wednesday . The stock traded as low as $11.51 and last traded at $11.87, with a volume of 43563 shares changing hands. The stock had previously closed at $12.08.

Wall Street Analyst Weigh In

BCAX has been the subject of several research reports. Stifel Nicolaus began coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price for the company. HC Wainwright began coverage on Bicara Therapeutics in a research report on Friday, December 6th. They set a “buy” rating and a $42.00 target price on the stock. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Morgan Stanley assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a report on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bicara Therapeutics currently has an average rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Price Performance

The stock’s 50-day simple moving average is $17.46.

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). Analysts anticipate that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Trading of Bicara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management bought a new position in Bicara Therapeutics in the 4th quarter valued at $31,000. SG Americas Securities LLC purchased a new stake in Bicara Therapeutics during the fourth quarter worth about $147,000. Cinctive Capital Management LP bought a new stake in Bicara Therapeutics in the third quarter worth about $229,000. Barclays PLC purchased a new position in Bicara Therapeutics in the third quarter valued at about $255,000. Finally, Jane Street Group LLC bought a new position in shares of Bicara Therapeutics during the 3rd quarter valued at approximately $309,000.

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.