RA Capital Management L.P. Takes Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

RA Capital Management L.P. bought a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,955,993 shares of the company's stock, valued at approximately $177,169,000. Bicara Therapeutics accounts for about 2.0% of RA Capital Management L.P.'s holdings, making the stock its 13th largest holding. RA Capital Management L.P. owned about 13.44% of Bicara Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Turn Management LLC purchased a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at approximately $14,324,000. The Manufacturers Life Insurance Company purchased a new stake in Bicara Therapeutics during the 3rd quarter worth about $582,000. FMR LLC acquired a new position in shares of Bicara Therapeutics during the 3rd quarter worth about $57,913,000. Walleye Capital LLC purchased a new position in shares of Bicara Therapeutics in the 3rd quarter valued at about $809,000. Finally, Vestal Point Capital LP acquired a new position in Bicara Therapeutics in the third quarter valued at approximately $10,825,000.

Insider Activity 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 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 directly owns 4,303,418 shares of the company's stock, valued at $77,461,524. This represents a 74.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James E. Flynn acquired 70,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were acquired at an average price of $18.00 per share, with a total value of $1,260,000.00. Following the purchase, the insider now owns 897,587 shares in the company, valued at $16,156,566. This represents a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

BCAX has been the subject of several research reports. Stifel Nicolaus assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a "buy" rating and a $47.00 target price for the company. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They set a "buy" rating and a $48.00 target price on the stock. Cantor Fitzgerald began coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an "overweight" rating for the company. Morgan Stanley began coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an "overweight" rating and a $35.00 price objective on the stock. Finally, TD Cowen began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a "buy" rating for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $43.33.

Bicara Therapeutics Stock Performance

BCAX stock traded down $0.27 during midday trading on Thursday, hitting $19.68. 110,498 shares of the stock were exchanged, compared to its average volume of 351,646. Bicara Therapeutics Inc. has a fifty-two week low of $17.41 and a fifty-two week high of $28.09. The stock's 50-day moving average is $21.94.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($1.14). As a group, equities research analysts predict that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

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.