Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 9.7% – Should You Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price shot up 9.7% during mid-day trading on Thursday . The company traded as high as $12.81 and last traded at $12.90. 315,621 shares were traded during mid-day trading, a decline of 18% from the average session volume of 384,213 shares. The stock had previously closed at $11.76.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. HC Wainwright increased their price target on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating on the stock. TD Cowen assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating for the company. Finally, Morgan Stanley began coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $43.75.

Bicara Therapeutics Stock Up 9.8 %

The stock’s 50-day moving average price is $16.65.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly 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). On average, research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

Hedge funds have recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in shares of Bicara Therapeutics during the fourth quarter worth about $31,000. SG Americas Securities LLC acquired a new position in shares of Bicara Therapeutics during the fourth quarter worth about $147,000. Cinctive Capital Management LP purchased a new position in shares of Bicara Therapeutics in the third quarter valued at $229,000. Barclays PLC acquired a new position in shares of Bicara Therapeutics in the third quarter worth about $255,000. Finally, Jane Street Group LLC acquired a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $309,000.

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.