Bicara Therapeutics (NASDAQ:BCAX) Trading Up 9.7% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price was up 9.7% on Thursday . The stock traded as high as $12.81 and last traded at $12.90. Approximately 315,621 shares traded hands during trading, a decline of 18% from the average daily volume of 384,213 shares. The stock had previously closed at $11.76.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BCAX shares. TD Cowen assumed coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. Morgan Stanley assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating for the company. Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price on the stock. Finally, RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $43.75.

Bicara Therapeutics Trading Down 2.2 %

The stock’s fifty day moving average price is $16.45.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data 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). As a group, equities analysts anticipate that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Trading of Bicara Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Turn Management LLC bought a new position in Bicara Therapeutics during the 3rd quarter worth $14,324,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at about $582,000. FMR LLC bought a new position in shares of Bicara Therapeutics during the third quarter worth about $57,913,000. Walleye Capital LLC acquired a new position in shares of Bicara Therapeutics in the third quarter worth approximately $809,000. Finally, Vestal Point Capital LP bought a new stake in Bicara Therapeutics in the third quarter valued at approximately $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.