Bicara Therapeutics (NASDAQ:BCAX) Posts Quarterly Earnings Results, Misses Expectations By $1.14 EPS

Bicara Therapeutics (NASDAQ:BCAX) announced its quarterly earnings results on Tuesday. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($1.14), Zacks reports.

Bicara Therapeutics Stock Performance

NASDAQ BCAX opened at $22.25 on Friday. The business’s 50 day moving average price is $23.43. Bicara Therapeutics has a twelve month low of $18.33 and a twelve month high of $28.09.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price on the stock. Morgan Stanley assumed coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating and a $35.00 target price on the stock. TD Cowen began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating on the stock. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $43.33.

Insider Activity

In related news, major shareholder James E. Flynn purchased 70,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of $18.00 per share, with a total value of $1,260,000.00. Following the completion of the purchase, the insider now 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the purchase, the director now directly owns 4,303,418 shares of the company’s stock, valued at $77,461,524. The trade was a 74.20 % increase in their position. The disclosure for this purchase can be found here.

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.