Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down - What's Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $20.17, but opened at $19.74. Bicara Therapeutics shares last traded at $19.67, with a volume of 21,247 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an "overweight" rating and a $35.00 price target for the company. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an "overweight" rating for the company. Stifel Nicolaus started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set a "buy" rating and a $47.00 price objective for the company. TD Cowen started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set a "buy" rating for the company. Finally, Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a report on Tuesday, November 5th. They set a "buy" rating and a $48.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $43.33.

Bicara Therapeutics Stock Performance

The business has a 50 day simple moving average of $23.33.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($1.14). Equities analysts anticipate that Bicara Therapeutics Inc. will post -2.89 EPS for the current fiscal year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the acquisition, the director now owns 4,303,418 shares in the company, valued at $77,461,524. This trade represents a 74.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James E. Flynn bought 70,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the purchase, the insider now owns 897,587 shares of the company's stock, valued at approximately $16,156,566. This represents a 8.46 % increase in their position. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky bought a new position in Bicara Therapeutics in the third quarter worth approximately $358,000. Geode Capital Management LLC bought a new position in Bicara Therapeutics in the third quarter worth approximately $1,239,000. Barclays PLC bought a new position in Bicara Therapeutics in the third quarter worth approximately $255,000. Jane Street Group LLC bought a new position in Bicara Therapeutics in the third quarter worth approximately $309,000. Finally, Wellington Management Group LLP bought a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at $19,458,000.

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.