First Turn Management LLC Takes $14.32 Million Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

First Turn Management LLC bought a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 562,391 shares of the company's stock, valued at approximately $14,324,000. Bicara Therapeutics comprises about 2.3% of First Turn Management LLC's investment portfolio, making the stock its 24th largest holding. First Turn Management LLC owned approximately 1.09% of Bicara Therapeutics at the end of the most recent reporting period.

Insider Activity at Bicara Therapeutics

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

Wall Street Analyst Weigh In

BCAX has been the topic of a number of research analyst reports. Cantor Fitzgerald began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an "overweight" rating on the stock. TD Cowen initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set a "buy" rating on the stock. Stifel Nicolaus initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a "buy" rating and a $47.00 price objective for the company. Morgan Stanley started coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an "overweight" rating and a $35.00 target price for the company. Finally, Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They set a "buy" rating and a $48.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $43.33.

Bicara Therapeutics Stock Up 0.7 %

Shares of BCAX stock traded up $0.12 on Tuesday, hitting $19.32. The company had a trading volume of 493,700 shares, compared to its average volume of 360,551. Bicara Therapeutics Inc. has a twelve month low of $18.33 and a twelve month high of $28.09. The company's 50-day simple moving average is $23.24.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its quarterly earnings results 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). Sell-side analysts anticipate that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current fiscal year.

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.