Bicara Therapeutics (NASDAQ:BCAX) Hits New 52-Week Low – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.10 and last traded at $16.34, with a volume of 470590 shares trading hands. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCAX. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. TD Cowen assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. HC Wainwright began coverage on shares of Bicara Therapeutics in a research report on Friday, December 6th. They issued a “buy” rating and a $42.00 price objective on the stock. Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price for the company. Finally, Morgan Stanley initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $43.00.

Bicara Therapeutics Stock Down 10.0 %

The firm has a fifty day moving average of $20.90.

Bicara Therapeutics (NASDAQ:BCAX) last announced its earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($1.14). Research analysts forecast that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

Large investors have recently modified their holdings of the company. Cinctive Capital Management LP acquired a new stake in shares of Bicara Therapeutics during the third quarter valued at about $229,000. Barclays PLC bought a new position in Bicara Therapeutics during the third quarter valued at about $255,000. Jane Street Group LLC acquired a new stake in Bicara Therapeutics during the third quarter valued at approximately $309,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Bicara Therapeutics in the third quarter valued at $358,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Bicara Therapeutics in the 3rd quarter worth about $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.