Bicara Therapeutics (NASDAQ:BCAX) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $42.00 target price on the stock.

A number of other research firms have also issued reports on BCAX. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating on the stock. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Morgan Stanley initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, TD Cowen initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Bicara Therapeutics has a consensus rating of “Buy” and an average target price of $43.00.

Bicara Therapeutics Stock Performance

NASDAQ:BCAX opened at $21.10 on Friday. Bicara Therapeutics has a 52-week low of $17.41 and a 52-week high of $28.09. The company’s fifty day moving average is $21.73.

Bicara Therapeutics (NASDAQ:BCAX) last released 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). Research analysts forecast that Bicara Therapeutics will post -2.89 earnings per share for the current year.

Insider Transactions at Bicara Therapeutics

In related news, 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 bought at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the acquisition, the director now directly owns 4,303,418 shares of the company’s stock, valued at $77,461,524. The trade was a 74.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James E. Flynn bought 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of $18.00 per share, with a total value 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. This trade represents a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Bicara Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in BCAX. Cinctive Capital Management LP purchased a new position in Bicara Therapeutics during the 3rd quarter valued at $229,000. Barclays PLC purchased a new position in shares of Bicara Therapeutics during the third quarter valued at about $255,000. Jane Street Group LLC bought a new position in Bicara Therapeutics in the third quarter worth about $309,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Bicara Therapeutics in the third quarter worth about $358,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Bicara Therapeutics during the 3rd quarter valued at approximately $462,000.

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.