Bicara Therapeutics (NASDAQ:BCAX) Shares Up 7.3% - Should You Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price was up 7.3% on Monday . The company traded as high as $13.09 and last traded at $13.01. Approximately 121,284 shares traded hands during trading, a decline of 66% from the average daily volume of 356,914 shares. The stock had previously closed at $12.13.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BCAX shares. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a "strong-buy" rating in a research report on Tuesday, November 5th. HC Wainwright increased their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a "buy" rating and a $48.00 price target on the stock. Finally, Wedbush reiterated an "outperform" rating and issued a $31.00 price target on shares of Bicara Therapeutics in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $41.20.

Bicara Therapeutics Stock Performance

The business has a 50-day moving average of $15.27.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($1.14). Equities analysts expect that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Bicara Therapeutics

A number of hedge funds have recently made changes to their positions in the business. First Turn Management LLC purchased a new position in Bicara Therapeutics in the 3rd quarter worth approximately $14,324,000. Geode Capital Management LLC purchased a new position in shares of Bicara Therapeutics in the third quarter worth $1,239,000. Vestal Point Capital LP bought a new position in shares of Bicara Therapeutics during the third quarter worth $10,825,000. FMR LLC purchased a new position in Bicara Therapeutics during the third quarter valued at $57,913,000. Finally, Braidwell LP purchased a new position in Bicara Therapeutics during the third quarter valued at $42,219,000.

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.