Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 5.9% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares dropped 5.9% during trading on Friday . The company traded as low as $17.88 and last traded at $17.99. Approximately 198,289 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 422,191 shares. The stock had previously closed at $19.12.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price on the stock. TD Cowen began coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. Cantor Fitzgerald began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating on the stock. Finally, Stifel Nicolaus began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price objective for the company. Six 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 has a consensus rating of “Buy” and an average target price of $43.00.

Bicara Therapeutics Trading Down 5.9 %

The stock’s fifty day moving average price is $20.72.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($1.14). As a group, analysts forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

Several institutional investors have recently modified their holdings of BCAX. First Turn Management LLC acquired a new stake in Bicara Therapeutics in the third quarter valued at approximately $14,324,000. Vestal Point Capital LP purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter worth $10,825,000. FMR LLC acquired a new position in shares of Bicara Therapeutics during the third quarter worth $57,913,000. Braidwell LP acquired a new stake in Bicara Therapeutics in the third quarter valued at $42,219,000. Finally, Samsara BioCapital LLC purchased a new stake in Bicara Therapeutics during the 3rd quarter worth about $891,000.

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.