Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.03, but opened at $12.65. Bicara Therapeutics shares last traded at $12.38, with a volume of 23,925 shares.

Analysts Set New Price Targets

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

Bicara Therapeutics Stock Performance

The company has a 50 day moving average of $13.06 and a two-hundred day moving average of $17.80.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). As a group, analysts predict that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. purchased a new stake in shares of Bicara Therapeutics during the third quarter valued at $177,169,000. Red Tree Management LLC acquired a new stake in Bicara Therapeutics during the 4th quarter worth about $55,230,000. FMR LLC purchased a new stake in Bicara Therapeutics during the 3rd quarter valued at about $57,913,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Bicara Therapeutics by 171.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock valued at $37,893,000 after purchasing an additional 1,375,265 shares during the period. Finally, Braidwell LP raised its stake in shares of Bicara Therapeutics by 20.7% in the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company’s stock worth $34,851,000 after purchasing an additional 343,059 shares during the last quarter.

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.