Bicara Therapeutics (NASDAQ:BCAX) Sets New 12-Month Low – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX) hit a new 52-week low on Wednesday . The stock traded as low as $17.94 and last traded at $18.00, with a volume of 64404 shares trading hands. The stock had previously closed at $19.32.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BCAX shares. Morgan Stanley began coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price target for the company. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price objective for the company. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Stock Performance

The business has a 50-day moving average of $22.94.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data 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). Equities analysts expect that Bicara Therapeutics Inc. will post -2.89 EPS for the current fiscal year.

Insider Transactions at Bicara Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 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, with a total value of $32,994,000.00. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James E. Flynn purchased 70,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the acquisition, the insider now directly owns 897,587 shares in the company, valued at approximately $16,156,566. This represents a 8.46 % increase in their position. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BCAX. Cinctive Capital Management LP acquired a new position in shares of Bicara Therapeutics in the 3rd quarter valued at $229,000. Barclays PLC acquired a new position in Bicara Therapeutics during the third quarter valued at $255,000. Jane Street Group LLC acquired a new stake in Bicara Therapeutics during the 3rd quarter worth about $309,000. Teachers Retirement System of The State of Kentucky purchased a new position in Bicara Therapeutics during the third quarter valued at approximately $358,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bicara Therapeutics in the 3rd quarter worth approximately $462,000.

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.