1,657,600 Shares in Bicara Therapeutics Inc. (NASDAQ:BCAX) Bought by Braidwell LP

Braidwell LP bought a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,657,600 shares of the company’s stock, valued at approximately $42,219,000. Braidwell LP owned 3.20% of Bicara Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC bought a new position in shares of Bicara Therapeutics in the third quarter valued at about $57,913,000. First Turn Management LLC bought a new stake in Bicara Therapeutics during the 3rd quarter worth about $14,324,000. Vestal Point Capital LP bought a new stake in Bicara Therapeutics during the 3rd quarter worth about $10,825,000. Walleye Capital LLC bought a new stake in Bicara Therapeutics during the 3rd quarter worth about $809,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Bicara Therapeutics during the 3rd quarter worth about $582,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BCAX shares. Stifel Nicolaus started coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. TD Cowen initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Morgan Stanley initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating for the company. 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, the company presently has an average rating of “Buy” and a consensus target price of $43.33.

Bicara Therapeutics Price Performance

NASDAQ:BCAX opened at $20.96 on Friday. Bicara Therapeutics Inc. has a twelve month low of $17.41 and a twelve month high of $28.09. The business’s 50 day moving average price is $22.40.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data 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 earnings per share for the current fiscal year.

Insider Activity at Bicara Therapeutics

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

Bicara Therapeutics 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.