Point72 Asset Management L.P. Takes Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Point72 Asset Management L.P. bought a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 371,962 shares of the company's stock, valued at approximately $9,474,000. Point72 Asset Management L.P. owned 0.72% of Bicara Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BCAX. Maven Securities LTD purchased a new position in shares of Bicara Therapeutics in the 3rd quarter worth about $1,274,000. Iron Triangle Partners LP purchased a new position in Bicara Therapeutics in the third quarter valued at approximately $5,094,000. Janus Henderson Group PLC purchased a new position in Bicara Therapeutics in the third quarter valued at approximately $30,329,000. Cinctive Capital Management LP acquired a new position in Bicara Therapeutics during the third quarter valued at approximately $229,000. Finally, Baker BROS. Advisors LP purchased a new stake in Bicara Therapeutics during the third quarter worth approximately $21,225,000.

Analyst Ratings Changes

BCAX has been the topic of several recent research reports. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a "strong-buy" rating in a report on Tuesday, November 5th. HC Wainwright began coverage on Bicara Therapeutics in a research report on Friday. They issued a "buy" rating and a $42.00 target price for the company. Stifel Nicolaus started coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a "buy" rating and a $47.00 target price for the company. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They set a "buy" rating and a $48.00 price target on the stock. Finally, TD Cowen assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a "buy" rating for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bicara Therapeutics has an average rating of "Buy" and an average price target of $43.00.

Insider Transactions at Bicara Therapeutics

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

Bicara Therapeutics Stock Up 8.0 %

NASDAQ BCAX traded up $1.56 during mid-day trading on Friday, reaching $21.10. 307,299 shares of the company's stock traded hands, compared to its average volume of 293,732. Bicara Therapeutics Inc. has a 1-year low of $17.41 and a 1-year high of $28.09. The firm's fifty day simple moving average is $21.73.

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