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

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares gapped down before the market opened on Monday . The stock had previously closed at $12.42, but opened at $12.03. Bicara Therapeutics shares last traded at $12.21, with a volume of 12,488 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BCAX. Wedbush restated an “outperform” rating and set a $31.00 target price on shares of Bicara Therapeutics in a report on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating and set a $13.01 target price on shares of Bicara Therapeutics in a report on Thursday, March 13th. Finally, HC Wainwright upped their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bicara Therapeutics presently has an average rating of “Buy” and an average target price of $36.50.

Bicara Therapeutics Stock Performance

The firm’s fifty day simple moving average is $13.08.

Hedge Funds Weigh In On Bicara Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of BCAX. RA Capital Management L.P. acquired a new position in shares of Bicara Therapeutics in the third quarter valued at about $177,169,000. Red Tree Management LLC acquired a new position in shares of Bicara Therapeutics in the fourth quarter valued at about $55,230,000. FMR LLC acquired a new position in shares of Bicara Therapeutics in the third quarter valued at about $57,913,000. Braidwell LP acquired a new position in shares of Bicara Therapeutics in the third quarter valued at about $42,219,000. Finally, Adage Capital Partners GP L.L.C. grew its stake 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 acquiring an additional 1,375,265 shares in 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.