Bicara Therapeutics (NASDAQ:BCAX) Sees Strong Trading Volume – Time to Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX) saw an uptick in trading volume on Wednesday . 1,027,954 shares traded hands during trading, an increase of 162% from the previous session’s volume of 391,914 shares.The stock last traded at $13.53 and had previously closed at $14.50.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BCAX shares. HC Wainwright lifted their price target on Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wedbush restated an “outperform” rating and set a $31.00 target price on shares of Bicara Therapeutics in a research report on Wednesday, February 12th. Seven equities 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 has an average rating of “Buy” and a consensus price target of $41.20.

Bicara Therapeutics Price Performance

The stock has a 50-day simple moving average of $13.44.

Institutional Investors Weigh In On Bicara Therapeutics

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

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.