Bicara Therapeutics (NASDAQ:BCAX) Shares Down 2.9% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price was down 2.9% during mid-day trading on Thursday . The company traded as low as $16.91 and last traded at $16.91. Approximately 43,480 shares were traded during trading, a decline of 90% from the average daily volume of 418,549 shares. The stock had previously closed at $17.42.

Wall Street Analyst Weigh In

BCAX has been the topic of a number of recent analyst reports. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating and a $47.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating on the stock. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price for the company. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright started coverage on Bicara Therapeutics in a research report on Friday, December 6th. They issued a “buy” rating and a $42.00 price objective on the stock. Six 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.00.

Bicara Therapeutics Stock Performance

The stock’s fifty day simple moving average is $20.33.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). On average, equities analysts expect that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BCAX. Cinctive Capital Management LP bought a new position 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.