Bicara Therapeutics (NASDAQ:BCAX) Hits New 52-Week Low – Should You Sell?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) reached a new 52-week low during trading on Friday . The company traded as low as $17.41 and last traded at $17.75, with a volume of 36032 shares changing hands. The stock had previously closed at $18.05.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley started coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective for the company. TD Cowen started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating for the company. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating for the company. Stifel Nicolaus started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price target for the company. Finally, Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Stock Down 3.0 %

The business has a fifty day moving average of $21.21.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, equities research analysts forecast that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicara Therapeutics

In related news, major shareholder James E. Flynn purchased 70,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were bought 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 approximately $16,156,566. This trade represents a 8.46 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the stock in a transaction on Monday, September 16th. The shares were bought at an average price of $18.00 per share, for a total transaction of $32,994,000.00. Following the acquisition, the director now owns 4,303,418 shares of the company’s stock, valued at approximately $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.

Hedge Funds Weigh In On Bicara Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cinctive Capital Management LP bought a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $229,000. Barclays PLC bought a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $255,000. Jane Street Group LLC bought a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $309,000. Teachers Retirement System of The State of Kentucky bought a new position in Bicara Therapeutics in the third quarter worth $358,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bicara Therapeutics in the third quarter worth $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.