Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 2.9% – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX) traded down 2.9% on Thursday . The stock traded as low as $16.91 and last traded at $16.91. 43,480 shares traded hands during trading, a decline of 90% from the average session volume of 418,549 shares. The stock had previously closed at $17.42.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BCAX. Morgan Stanley initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective for the company. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating and a $47.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating for the company. Finally, TD Cowen assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $43.00.

Bicara Therapeutics Stock Performance

The business has a fifty day moving average of $20.10.

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

Institutional Investors Weigh In On Bicara Therapeutics

A number of 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 worth about $229,000. Barclays PLC bought a new position in Bicara Therapeutics during the third quarter valued at approximately $255,000. Jane Street Group LLC purchased a new position in Bicara Therapeutics during the 3rd quarter valued at approximately $309,000. Teachers Retirement System of The State of Kentucky bought a new stake in Bicara Therapeutics in the 3rd quarter worth approximately $358,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter worth approximately $462,000.

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.