Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 4.7% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price fell 4.7% during trading on Thursday . The stock traded as low as $17.52 and last traded at $17.52. 298,296 shares traded hands during trading, a decline of 17% from the average session volume of 359,316 shares. The stock had previously closed at $18.38.

Analyst Upgrades and Downgrades

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

Bicara Therapeutics Stock Performance

The company’s 50 day simple moving average is $23.06.

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 the consensus estimate of ($0.46) by ($1.14). As a group, equities analysts predict that Bicara Therapeutics Inc. will post -2.89 EPS for the current fiscal year.

Insider Transactions at Bicara Therapeutics

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

Institutional Investors Weigh In On Bicara Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of BCAX. Cinctive Capital Management LP purchased a new position in Bicara Therapeutics during the third quarter valued at $229,000. Barclays PLC bought a new position in Bicara Therapeutics during the third quarter valued at approximately $255,000. Jane Street Group LLC purchased a new stake in Bicara Therapeutics during the third quarter valued at $309,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Bicara Therapeutics in the third quarter worth approximately $358,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bicara Therapeutics during the third quarter valued at approximately $462,000.

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.