Bicara Therapeutics (NASDAQ:BCAX) Shares Down 6.2% - Here's Why

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) were down 6.2% during trading on Friday . The stock traded as low as $20.87 and last traded at $20.87. Approximately 97,932 shares were traded during trading, a decline of 72% from the average daily volume of 349,358 shares. The stock had previously closed at $22.25.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BCAX shares. TD Cowen began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a "buy" rating on the stock. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a "strong-buy" rating in a research note on Tuesday, November 5th. Cantor Fitzgerald assumed coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an "overweight" rating for the company. Stifel Nicolaus started 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. Finally, Morgan Stanley began coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an "overweight" rating and a $35.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $43.33.

Bicara Therapeutics Price Performance

The firm's fifty day moving average price is $23.43.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted its 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). Research analysts anticipate that Bicara Therapeutics Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Bicara Therapeutics

In other Bicara Therapeutics news, major shareholder James E. Flynn acquired 70,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the transaction, the insider now owns 897,587 shares of the company's stock, valued at approximately $16,156,566. The trade was a 8.46 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 acquired at an average cost of $18.00 per share, with a total value of $32,994,000.00. Following the completion of the transaction, the director now directly owns 4,303,418 shares in the company, valued at approximately $77,461,524. The trade was a 74.20 % increase in their position. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new position in shares of Bicara Therapeutics in the 3rd quarter valued at about $582,000. FMR LLC purchased a new position in Bicara Therapeutics in the third quarter worth approximately $57,913,000. Janus Henderson Group PLC acquired a new position in Bicara Therapeutics during the 3rd quarter worth approximately $30,329,000. Walleye Capital LLC acquired a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at $809,000. Finally, Maven Securities LTD purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter worth $1,274,000.

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.

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