Bicara Therapeutics (NASDAQ:BCAX) Shares Down 3.2% – Should You Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price traded down 3.2% on Wednesday . The stock traded as low as $12.53 and last traded at $12.26. 4,275 shares were traded during mid-day trading, a decline of 99% from the average session volume of 465,490 shares. The stock had previously closed at $12.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BCAX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $13.01 price target on shares of Bicara Therapeutics in a report on Thursday, March 13th. HC Wainwright lifted their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Wedbush reissued an “outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a report on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bicara Therapeutics currently has an average rating of “Buy” and an average price target of $36.50.

Bicara Therapeutics Stock Performance

The firm has a fifty day simple moving average of $13.07 and a two-hundred day simple moving average of $17.76.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.08). As a group, equities research analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCAX. California State Teachers Retirement System purchased a new stake in Bicara Therapeutics during the fourth quarter valued at approximately $25,000. Vestal Point Capital LP increased its position in shares of Bicara Therapeutics by 67.1% during the 4th quarter. Vestal Point Capital LP now owns 710,000 shares of the company’s stock valued at $12,368,000 after purchasing an additional 285,000 shares during the last quarter. Wexford Capital LP bought a new stake in Bicara Therapeutics in the fourth quarter worth $348,000. Red Tree Management LLC purchased a new position in Bicara Therapeutics during the fourth quarter worth $55,230,000. Finally, Nuveen Asset Management LLC purchased a new position in Bicara Therapeutics during the fourth quarter worth $436,000.

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.