Bicara Therapeutics (NASDAQ:BCAX) Reaches New 1-Year Low – Time to Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price hit a new 52-week low on Wednesday . The company traded as low as $17.94 and last traded at $18.00, with a volume of 64404 shares trading hands. The stock had previously closed at $19.32.

Analyst Ratings Changes

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

Bicara Therapeutics Stock Down 4.3 %

The company has a 50 day moving average of $22.94.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results 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). On average, equities research analysts predict that Bicara Therapeutics Inc. will post -2.89 EPS for the current fiscal year.

Insider Transactions at Bicara Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $18.00 per share, with a total value of $32,994,000.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction 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 acquisition, the insider now owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. This represents a 8.46 % increase in their position. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors have recently modified their holdings of the company. First Turn Management LLC bought a new stake in Bicara Therapeutics during the 3rd quarter valued at $14,324,000. Walleye Capital LLC acquired a new position in shares of Bicara Therapeutics during the third quarter valued at about $809,000. Soros Fund Management LLC bought a new stake in shares of Bicara Therapeutics during the third quarter worth about $509,000. RA Capital Management L.P. bought a new stake in shares of Bicara Therapeutics during the third quarter worth about $177,169,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Bicara Therapeutics in the 3rd quarter worth about $1,420,000.

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.