Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down – Time to Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

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

Bicara Therapeutics Price Performance

The firm’s fifty day simple moving average is $23.24.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly 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). On average, equities research analysts anticipate that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Barclays PLC purchased a new position in shares of Bicara Therapeutics in the 3rd quarter worth approximately $255,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Bicara Therapeutics in the 3rd quarter worth about $358,000. Geode Capital Management LLC bought a new position in Bicara Therapeutics during the third quarter valued at about $1,239,000. Jane Street Group LLC purchased a new stake in Bicara Therapeutics during the third quarter worth about $309,000. Finally, Wellington Management Group LLP purchased a new position in Bicara Therapeutics in the third quarter valued at about $19,458,000.

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.