Norges Bank Takes Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Norges Bank bought a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 70,000 shares of the company's stock, valued at approximately $1,219,000. Norges Bank owned about 0.13% of Bicara Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Bicara Therapeutics by 1,457.9% during the fourth quarter. Vanguard Group Inc. now owns 1,090,528 shares of the company's stock worth $18,997,000 after buying an additional 1,020,528 shares in the last quarter. Wellington Management Group LLP acquired a new position in Bicara Therapeutics in the third quarter worth $19,458,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Bicara Therapeutics during the fourth quarter worth $2,731,000. JPMorgan Chase & Co. increased its stake in shares of Bicara Therapeutics by 8,768.5% in the fourth quarter. JPMorgan Chase & Co. now owns 64,740 shares of the company's stock valued at $1,128,000 after buying an additional 64,010 shares in the last quarter. Finally, Geode Capital Management LLC bought a new position in shares of Bicara Therapeutics in the third quarter valued at about $1,239,000.

Analyst Ratings Changes

Several equities research analysts have weighed in on BCAX shares. Wedbush restated an "outperform" rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 27th. HC Wainwright cut their price target on Bicara Therapeutics from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a report on Thursday, March 13th. Finally, Stifel Nicolaus set a $48.00 target price on shares of Bicara Therapeutics in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $36.50.

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Bicara Therapeutics Stock Performance

Bicara Therapeutics stock traded up $0.07 during mid-day trading on Tuesday, hitting $11.45. 292,742 shares of the company's stock were exchanged, compared to its average volume of 470,382. Bicara Therapeutics Inc. has a fifty-two week low of $8.91 and a fifty-two week high of $28.09. The company's 50 day simple moving average is $12.74 and its 200-day simple moving average is $16.66.

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

Bicara Therapeutics 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.