Bicara Therapeutics (NASDAQ:BCAX) Reaches New 52-Week Low – Time to Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.41 and last traded at $17.75, with a volume of 36032 shares traded. The stock had previously closed at $18.05.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. TD Cowen initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. HC Wainwright started coverage on shares of Bicara Therapeutics in a research note on Friday, December 6th. They set a “buy” rating and a $42.00 price target on the stock. Morgan Stanley began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price target for the company. Rodman & Renshaw began coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price on the stock. Finally, RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $43.00.

Bicara Therapeutics Trading Down 1.3 %

The firm has a fifty day moving average price of $21.36.

Bicara Therapeutics (NASDAQ:BCAX) last issued 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). Analysts expect that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Insider Buying and Selling at Bicara Therapeutics

In other news, Director Ra Capital Management, L.P. bought 1,833,000 shares of Bicara Therapeutics stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the acquisition, the director now owns 4,303,418 shares of the company’s stock, valued at $77,461,524. The trade was a 74.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James E. Flynn purchased 70,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were purchased at an average price of $18.00 per share, with a total value of $1,260,000.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here.

Institutional Trading of Bicara Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Cinctive Capital Management LP acquired a new position in shares of Bicara Therapeutics during the third quarter worth $229,000. Barclays PLC purchased a new stake in shares of Bicara Therapeutics during the third quarter worth about $255,000. Jane Street Group LLC acquired a new position in shares of Bicara Therapeutics in the third quarter worth about $309,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Bicara Therapeutics during the 3rd quarter valued at approximately $358,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bicara Therapeutics during the 3rd quarter worth approximately $462,000.

About Bicara Therapeutics

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.