Bicara Therapeutics (NASDAQ:BCAX) Trading Up 7.3% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares traded up 7.3% during mid-day trading on Monday . The company traded as high as $13.09 and last traded at $13.01. 121,284 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 356,914 shares. The stock had previously closed at $12.13.

Analyst Upgrades and Downgrades

BCAX has been the topic of a number of recent research reports. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. HC Wainwright upped their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. 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 price target for the company. Finally, Wedbush restated an “outperform” rating and issued a $31.00 target price on shares of Bicara Therapeutics in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $41.20.

Bicara Therapeutics Price Performance

The firm has a 50 day moving average price of $15.27.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). On average, equities analysts anticipate that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Bicara Therapeutics

Large investors have recently added to or reduced their stakes in the stock. First Turn Management LLC bought a new position in shares of Bicara Therapeutics during the 3rd quarter valued at approximately $14,324,000. Geode Capital Management LLC purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at about $1,239,000. Vestal Point Capital LP bought a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at approximately $10,825,000. FMR LLC purchased a new position in Bicara Therapeutics during the third quarter worth $57,913,000. Finally, Braidwell LP purchased a new stake in Bicara Therapeutics in the 3rd quarter worth about $42,219,000.

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.