Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 5.5% – Time to Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX) was up 5.5% during mid-day trading on Monday . The stock traded as high as $18.63 and last traded at $18.55. Approximately 60,256 shares were traded during trading, a decline of 86% from the average daily volume of 425,623 shares. The stock had previously closed at $17.59.

Wall Street Analysts Forecast Growth

BCAX has been the subject of several recent research reports. TD Cowen began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating for the company. HC Wainwright began coverage on Bicara Therapeutics in a report on Friday, December 6th. They issued a “buy” rating and a $42.00 target price for the company. Cantor Fitzgerald began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating on the stock. Morgan Stanley initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus began coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $43.00.

Bicara Therapeutics Price Performance

The stock’s fifty day simple moving average is $20.81.

Bicara Therapeutics (NASDAQ:BCAX) last issued its 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, analysts forecast that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors have recently modified their holdings of BCAX. RA Capital Management L.P. bought a new position in shares of Bicara Therapeutics during the 3rd quarter worth $177,169,000. FMR LLC purchased a new stake in Bicara Therapeutics in the third quarter worth about $57,913,000. Braidwell LP bought a new position in Bicara Therapeutics during the 3rd quarter worth about $42,219,000. Janus Henderson Group PLC purchased a new position in Bicara Therapeutics during the 3rd quarter valued at about $30,329,000. Finally, Baker BROS. Advisors LP bought a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $21,225,000.

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.