Bicara Therapeutics (NASDAQ:BCAX) Posts Quarterly Earnings Results, Misses Estimates By $1.14 EPS

Bicara Therapeutics (NASDAQ:BCAX) announced its earnings results on Tuesday. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14), Zacks reports.

Bicara Therapeutics Price Performance

Shares of Bicara Therapeutics stock traded down $0.17 during trading hours on Wednesday, reaching $22.18. The stock had a trading volume of 157,300 shares, compared to its average volume of 356,940. The business’s 50 day simple moving average is $23.46. Bicara Therapeutics has a 1 year low of $18.33 and a 1 year high of $28.09.

Insider Buying and Selling at Bicara Therapeutics

In related news, Director Ra Capital Management, L.P. bought 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, with a total value of $32,994,000.00. Following the purchase, the director now owns 4,303,418 shares in the company, valued at approximately $77,461,524. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder James E. Flynn purchased 70,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were acquired 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 in the company, valued at approximately $16,156,566. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $18.00 per share, with a total value 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 $77,461,524. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of analysts have issued reports on BCAX shares. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 price target on the stock. TD Cowen assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating and a $47.00 price target on the stock. Cantor Fitzgerald started coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating for the company. Finally, Morgan Stanley started 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. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $43.33.

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.