Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) gapped down before the market opened on Monday . The stock had previously closed at $12.42, but opened at $12.03. Bicara Therapeutics shares last traded at $12.21, with a volume of 12,488 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a report on Wednesday, February 12th. HC Wainwright raised their price objective on Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $13.01 price objective on shares of Bicara Therapeutics in a report on Thursday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.50.

Bicara Therapeutics Price Performance

The stock has a 50 day moving average of $13.19.

Hedge Funds Weigh In On Bicara Therapeutics

A number of large investors have recently bought and sold shares of BCAX. Spire Wealth Management purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $32,000. Legal & General Group Plc purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $33,000. Summit Investment Advisors Inc. purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $35,000. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $69,000.

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.