Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 5.8% – Here’s Why

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) were down 5.8% during mid-day trading on Wednesday . The company traded as low as $17.00 and last traded at $17.10. Approximately 40,717 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 354,448 shares. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

BCAX has been the subject of a number of recent research reports. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating for the company. Morgan Stanley assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price target for the company. TD Cowen initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. Finally, HC Wainwright began coverage on shares of Bicara Therapeutics in a report on Friday, December 6th. They issued a “buy” rating and a $42.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $43.00.

Bicara Therapeutics Stock Down 5.6 %

The company’s 50-day moving average price is $20.98.

Bicara Therapeutics (NASDAQ:BCAX) last issued its 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 forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Bicara Therapeutics

Hedge funds have recently made changes to their positions in the company. Cinctive Capital Management LP purchased a new stake in Bicara Therapeutics during the third quarter valued at $229,000. Barclays PLC purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at about $255,000. Jane Street Group LLC bought a new position in shares of Bicara Therapeutics in the 3rd quarter valued at about $309,000. Teachers Retirement System of The State of Kentucky purchased a new position in Bicara Therapeutics in the third quarter worth about $358,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Bicara Therapeutics during the third quarter worth approximately $462,000.

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.