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

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) gapped down prior to trading on Monday . The stock had previously closed at $20.17, but opened at $19.74. Bicara Therapeutics shares last traded at $19.67, with a volume of 21,247 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on BCAX. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Morgan Stanley started coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating and a $35.00 target price on the stock. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 price target 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. Finally, TD Cowen initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Trading Up 0.7 %

The business has a 50 day moving average price of $23.24.

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). As a group, equities analysts forecast that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder James E. Flynn acquired 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $18.00 per share, with a total value of $32,994,000.00. Following the transaction, the director now owns 4,303,418 shares in the company, valued at $77,461,524. This represents a 74.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Turn Management LLC bought a new stake in shares of Bicara Therapeutics in the third quarter worth $14,324,000. The Manufacturers Life Insurance Company acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $582,000. FMR LLC acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $57,913,000. Walleye Capital LLC bought a new stake in Bicara Therapeutics during the 3rd quarter worth about $809,000. Finally, Vestal Point Capital LP bought a new position in shares of Bicara Therapeutics in the 3rd quarter valued at about $10,825,000.

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.