Bicara Therapeutics (NASDAQ:BCAX) Shares Down 3.2% – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX) dropped 3.2% on Wednesday . The company traded as low as $12.53 and last traded at $12.26. Approximately 4,275 shares were traded during trading, a decline of 99% from the average daily volume of 465,490 shares. The stock had previously closed at $12.66.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright boosted their price target on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.01 target price on shares of Bicara Therapeutics in a report on Thursday, March 13th. Finally, Wedbush reissued an “outperform” rating and issued a $31.00 target price on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Seven 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, the stock presently has an average rating of “Buy” and a consensus target price of $36.50.

Bicara Therapeutics Stock Performance

The business’s 50 day simple moving average is $13.07 and its two-hundred day simple moving average is $17.76.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). As a group, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. bought a new stake in Bicara Therapeutics during the third quarter valued at approximately $177,169,000. Red Tree Management LLC purchased a new position in shares of Bicara Therapeutics during the 4th quarter worth $55,230,000. FMR LLC bought a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at $57,913,000. Adage Capital Partners GP L.L.C. raised its holdings in Bicara Therapeutics by 171.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock worth $37,893,000 after purchasing an additional 1,375,265 shares during the period. Finally, Braidwell LP lifted its position in Bicara Therapeutics by 20.7% during the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company’s stock valued at $34,851,000 after purchasing an additional 343,059 shares in the last quarter.

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.