Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 6.2% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX) was down 6.2% during mid-day trading on Friday . The stock traded as low as $20.87 and last traded at $20.87. Approximately 97,932 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 349,358 shares. The stock had previously closed at $22.25.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating on the stock. TD Cowen began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. Stifel Nicolaus began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price target for the company. Morgan Stanley started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.33.

Bicara Therapeutics Stock Down 9.3 %

The firm’s fifty day moving average price is $23.33.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($1.14). Research analysts anticipate that Bicara Therapeutics Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Bicara Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Cinctive Capital Management LP purchased a new position in Bicara Therapeutics in the third quarter valued at $229,000. Barclays PLC purchased a new position in shares of Bicara Therapeutics in the 3rd quarter valued at about $255,000. Jane Street Group LLC acquired a new position in Bicara Therapeutics in the 3rd quarter worth about $309,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bicara Therapeutics in the 3rd quarter worth about $462,000. Finally, Soros Fund Management LLC purchased a new position in Bicara Therapeutics during the third quarter worth approximately $509,000.

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.