Bicara Therapeutics (NASDAQ:BCAX) Shares Down 8% – Should You Sell?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) were down 8% during trading on Tuesday . The company traded as low as $19.22 and last traded at $19.45. Approximately 137,637 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 349,756 shares. The stock had previously closed at $21.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 target price on the stock. Morgan Stanley initiated coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price target for the company. Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating for the company. Finally, HC Wainwright assumed coverage on Bicara Therapeutics in a research note on Friday. They issued a “buy” rating and a $42.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $43.00.

Bicara Therapeutics Stock Down 8.7 %

The business has a 50 day simple moving average of $21.64.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($1.14). As a group, analysts forecast that Bicara Therapeutics Inc. will post -2.89 EPS for the current year.

Insiders Place Their Bets

In other Bicara Therapeutics news, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the acquisition, the insider now owns 897,587 shares in the company, valued at $16,156,566. This represents a 8.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of Bicara Therapeutics stock in a transaction on Monday, September 16th. The shares were acquired at an average cost of $18.00 per share, with a total value of $32,994,000.00. Following the completion of the transaction, the director now directly owns 4,303,418 shares in the company, valued at $77,461,524. The trade was a 74.20 % increase in their position. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors have recently modified their holdings of the stock. First Turn Management LLC purchased a new position in Bicara Therapeutics during the third quarter valued at approximately $14,324,000. Vestal Point Capital LP purchased a new position in shares of Bicara Therapeutics during the 3rd quarter valued at approximately $10,825,000. FMR LLC acquired a new stake in Bicara Therapeutics during the third quarter valued at $57,913,000. Braidwell LP purchased a new position in shares of Bicara Therapeutics in the 3rd quarter valued at about $42,219,000. Finally, Samsara BioCapital LLC purchased a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $891,000.

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.