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

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $13.03, but opened at $12.65. Bicara Therapeutics shares last traded at $12.38, with a volume of 23,925 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus set a $48.00 price target on shares of Bicara Therapeutics in a research note on Thursday, March 27th. HC Wainwright raised their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.01 price target on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Finally, Wedbush reissued an "outperform" rating and issued a $31.00 price target on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $36.67.

Bicara Therapeutics Price Performance

The stock's fifty day simple moving average is $13.07 and its two-hundred day simple moving average is $17.59.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its earnings results on Thursday, March 27th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.08). Equities research analysts anticipate that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Bicara Therapeutics

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Bicara Therapeutics in the third quarter worth about $582,000. FMR LLC purchased a new position in Bicara Therapeutics during the 3rd quarter worth approximately $57,913,000. Walleye Capital LLC purchased a new position in Bicara Therapeutics during the 3rd quarter worth approximately $809,000. Janus Henderson Group PLC acquired a new stake in Bicara Therapeutics during the 3rd quarter valued at $30,329,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Bicara Therapeutics in the third quarter valued at $9,474,000.

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.