Vestal Point Capital LP Buys New Shares in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Vestal Point Capital LP acquired a new stake in Bicara Therapeutics Inc. (NASDAQ:BCAX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 425,000 shares of the company’s stock, valued at approximately $10,825,000. Bicara Therapeutics comprises about 0.8% of Vestal Point Capital LP’s holdings, making the stock its 29th largest position.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC acquired a new stake in shares of Bicara Therapeutics during the third quarter worth $57,913,000. First Turn Management LLC bought a new position in Bicara Therapeutics in the third quarter valued at approximately $14,324,000. Walleye Capital LLC acquired a new position in shares of Bicara Therapeutics during the 3rd quarter worth $809,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Bicara Therapeutics during the third quarter worth about $582,000.

Insider Buying and Selling at Bicara Therapeutics

In related news, major shareholder James E. Flynn acquired 70,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the acquisition, the insider now directly owns 897,587 shares in the company, valued at $16,156,566. The trade was a 8.46 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. bought 1,833,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $32,994,000.00. Following the transaction, the director now owns 4,303,418 shares of the company’s stock, valued at $77,461,524. The trade was a 74.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. TD Cowen began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating for the company. Morgan Stanley assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective for the company. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price for the company. Finally, Stifel Nicolaus began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Stock Performance

BCAX stock opened at $20.96 on Friday. The firm’s fifty day simple moving average is $22.40. Bicara Therapeutics Inc. has a 52 week low of $17.41 and a 52 week high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($1.14). Research analysts expect that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Bicara Therapeutics 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.