Bicara Therapeutics (NASDAQ:BCAX) Shares Up 7.9% – Time to Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX) rose 7.9% during trading on Tuesday . The stock traded as high as $19.69 and last traded at $19.69. Approximately 83,493 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 362,962 shares. The stock had previously closed at $18.25.

Wall Street Analyst Weigh In

BCAX has been the topic of a number of recent research reports. Morgan Stanley began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price on the stock. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. TD Cowen initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating for the company. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating for the company. Finally, Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bicara Therapeutics presently has a consensus rating of “Buy” and an average target price of $43.33.

Bicara Therapeutics Stock Performance

The company has a 50-day moving average price of $22.70.

Bicara Therapeutics (NASDAQ:BCAX) last announced its earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($1.14). On average, sell-side analysts forecast that Bicara Therapeutics Inc. will post -2.89 EPS for the current year.

Insider Activity at Bicara Therapeutics

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

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new stake in Bicara Therapeutics during the 3rd quarter valued at $177,169,000. FMR LLC purchased a new stake in shares of Bicara Therapeutics in the third quarter worth approximately $57,913,000. Braidwell LP purchased a new position in Bicara Therapeutics during the third quarter valued at approximately $42,219,000. Janus Henderson Group PLC acquired a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at $30,329,000. Finally, Baker BROS. Advisors LP purchased a new stake in shares of Bicara Therapeutics during the third quarter worth $21,225,000.

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.