Bicara Therapeutics (NASDAQ:BCAX) Trading Down 7.5% - Here's Why

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price was down 7.5% on Monday . The stock traded as low as $12.31 and last traded at $12.30. Approximately 21,717 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 356,558 shares. The stock had previously closed at $13.30.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BCAX shares. HC Wainwright increased their price target on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a "buy" rating in a report on Monday, January 27th. Wedbush reissued an "outperform" rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $41.20.

Bicara Therapeutics Trading Up 5.1 %

The business's 50-day moving average is $13.53.

Institutional Trading of Bicara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. acquired a new stake in Bicara Therapeutics in the third quarter valued at approximately $177,169,000. Red Tree Management LLC acquired a new stake in Bicara Therapeutics in the fourth quarter valued at approximately $55,230,000. FMR LLC acquired a new stake in Bicara Therapeutics in the third quarter valued at approximately $57,913,000. Adage Capital Partners GP L.L.C. boosted its position in Bicara Therapeutics by 171.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company's stock valued at $37,893,000 after buying an additional 1,375,265 shares in the last quarter. Finally, Braidwell LP boosted its position in Bicara Therapeutics by 20.7% in the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company's stock valued at $34,851,000 after buying an additional 343,059 shares in the last quarter.

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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.