Bicara Therapeutics (NASDAQ:BCAX) Trading Down 7% – Here’s What Happened

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) dropped 7% during mid-day trading on Tuesday . The company traded as low as $14.15 and last traded at $14.29. Approximately 222,907 shares traded hands during trading, a decline of 40% from the average daily volume of 373,259 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

Several research analysts have commented on BCAX shares. Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. HC Wainwright upped their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $13.01 price target on shares of Bicara Therapeutics in a research note on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bicara Therapeutics has an average rating of “Buy” and an average price target of $36.50.

Bicara Therapeutics Stock Performance

The business has a fifty day moving average price of $13.28.

Institutional Trading of Bicara Therapeutics

Several hedge funds have recently modified their holdings of BCAX. Spire Wealth Management purchased a new stake in shares of Bicara Therapeutics during the 4th quarter valued at $31,000. BNP Paribas Financial Markets acquired a new stake in Bicara Therapeutics in the fourth quarter worth about $32,000. Legal & General Group Plc acquired a new stake in Bicara Therapeutics in the fourth quarter worth about $33,000. Summit Investment Advisors Inc. acquired a new stake in Bicara Therapeutics in the fourth quarter worth about $35,000. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of Bicara Therapeutics during the fourth quarter worth about $69,000.

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.