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

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $11.76, but opened at $11.21. Bicara Therapeutics shares last traded at $11.66, with a volume of 135,581 shares trading hands.

Analyst Ratings Changes

A number of analysts have issued reports on BCAX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.01 target price on shares of Bicara Therapeutics in a report on Thursday, March 13th. Stifel Nicolaus set a $48.00 price objective on Bicara Therapeutics in a research note on Thursday, March 27th. Wells Fargo & Company initiated coverage on Bicara Therapeutics in a report on Thursday, April 17th. They set an "underweight" rating and a $8.00 price objective for the company. HC Wainwright reduced their target price on Bicara Therapeutics from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Wedbush reiterated an "outperform" rating and set a $31.00 price target on shares of Bicara Therapeutics in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.43.

Bicara Therapeutics Price Performance

The business's 50-day moving average is $12.66 and its two-hundred day moving average is $16.22.

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

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $1,239,000. Barclays PLC acquired a new position in shares of Bicara Therapeutics in the third quarter valued at $255,000. Bank of New York Mellon Corp acquired a new stake in shares of Bicara Therapeutics during the 4th quarter worth about $701,000. Rhumbline Advisers acquired a new stake in Bicara Therapeutics during the fourth quarter worth approximately $331,000. Finally, Jane Street Group LLC bought a new stake in Bicara Therapeutics in the 3rd quarter valued at $309,000.

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.