Bicara Therapeutics (NASDAQ:BCAX) Trading Down 4.1% – Time to Sell?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) dropped 4.1% on Thursday . The stock traded as low as $12.35 and last traded at $12.39. Approximately 237,476 shares traded hands during trading, a decline of 38% from the average daily volume of 381,444 shares. The stock had previously closed at $12.92.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price for the company. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. 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 price target for the company. TD Cowen initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating on the stock. Finally, HC Wainwright started coverage on Bicara Therapeutics in a research report on Friday, December 6th. They issued a “buy” rating and a $42.00 target price for the company. Six 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, Bicara Therapeutics has a consensus rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Stock Performance

The company’s 50 day moving average price is $18.58.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data 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). Equities analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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