2,273,792 Shares in Bicara Therapeutics Inc. (NASDAQ:BCAX) Bought by Fmr LLC

FMR LLC bought a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,273,792 shares of the company's stock, valued at approximately $57,913,000. FMR LLC owned about 4.39% of Bicara Therapeutics at the end of the most recent reporting period.

Separately, The Manufacturers Life Insurance Company purchased a new stake in Bicara Therapeutics in the third quarter valued at approximately $582,000.

Bicara Therapeutics Stock Performance

Shares of BCAX traded up $1.56 during trading hours on Friday, hitting $21.10. 307,299 shares of the stock were exchanged, compared to its average volume of 293,732. The stock has a 50-day moving average price of $21.73. Bicara Therapeutics Inc. has a 12-month low of $17.41 and a 12-month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings data 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, analysts predict that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling at Bicara Therapeutics

In other news, 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, for a total transaction of $32,994,000.00. Following the acquisition, the director now owns 4,303,418 shares of the company's stock, valued at $77,461,524. This represents a 74.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James E. Flynn acquired 70,000 shares of the business's stock in a transaction that occurred 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 acquisition, the insider now directly owns 897,587 shares in the company, 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.

Analyst Upgrades and Downgrades

Several analysts have commented on BCAX shares. HC Wainwright assumed coverage on shares of Bicara Therapeutics in a research note on Friday. They set a "buy" rating and a $42.00 price objective for the company. TD Cowen began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a "buy" rating for the company. Rodman & Renshaw began coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They issued a "buy" rating and a $48.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a "buy" rating and a $47.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an "overweight" rating for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $43.00.

Bicara Therapeutics 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.