Baker BROS. Advisors LP Makes New $21.23 Million Investment in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Baker BROS. Advisors LP bought a new stake in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 833,333 shares of the company's stock, valued at approximately $21,225,000. Baker BROS. Advisors LP owned approximately 1.61% of Bicara Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BCAX. FMR LLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at $57,913,000. Braidwell LP purchased a new position in Bicara Therapeutics in the third quarter valued at $42,219,000. First Turn Management LLC purchased a new stake in Bicara Therapeutics during the 3rd quarter worth about $14,324,000. Vestal Point Capital LP purchased a new stake in Bicara Therapeutics during the 3rd quarter worth about $10,825,000. Finally, Walleye Capital LLC purchased a new stake in Bicara Therapeutics during the 3rd quarter worth about $809,000.

Bicara Therapeutics Price Performance

Shares of NASDAQ:BCAX traded down $0.78 during trading on Monday, hitting $20.01. 283,364 shares of the stock were exchanged, compared to its average volume of 356,753. The company has a fifty day simple moving average of $22.31. 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) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($1.14). On average, equities analysts anticipate that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Insider Activity at Bicara Therapeutics

In other news, major shareholder James E. Flynn purchased 70,000 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were bought at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the purchase, the insider now owns 897,587 shares of the company's stock, valued at $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. bought 1,833,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average cost 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 disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

BCAX has been the topic of a number of research analyst reports. Cantor Fitzgerald assumed coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an "overweight" rating on the stock. RODMAN&RENSHAW upgraded Bicara Therapeutics to a "strong-buy" rating in a research report on Tuesday, November 5th. TD Cowen assumed coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a "buy" rating on the stock. Morgan Stanley assumed coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an "overweight" rating and a $35.00 price target on the stock. Finally, Stifel Nicolaus assumed coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a "buy" rating and a $47.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target 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.