Bicara Therapeutics (NASDAQ:BCAX) Shares Down 6.6% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price traded down 6.6% during trading on Tuesday . The stock traded as low as $12.94 and last traded at $12.89. 307,814 shares changed hands during trading, a decline of 30% from the average session volume of 438,531 shares. The stock had previously closed at $13.80.

Analysts Set New Price Targets

A number of brokerages have weighed in on BCAX. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.01 target price on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Wedbush restated an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research report on Wednesday, February 12th. Finally, HC Wainwright lifted their target price on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $36.50.

Bicara Therapeutics Price Performance

The firm has a fifty day moving average of $12.98.

Institutional Trading of Bicara Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in Bicara Therapeutics in the 4th quarter valued at $25,000. Spire Wealth Management purchased a new stake in Bicara Therapeutics in the 4th quarter valued at about $31,000. BNP Paribas Financial Markets bought a new position in Bicara Therapeutics in the 4th quarter worth about $32,000. Legal & General Group Plc purchased a new position in shares of Bicara Therapeutics during the fourth quarter worth approximately $33,000. Finally, Summit Investment Advisors Inc. bought a new stake in shares of Bicara Therapeutics during the fourth quarter valued at approximately $35,000.

Bicara Therapeutics Company 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.