Wellington Management Group LLP Takes $19.46 Million Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Wellington Management Group LLP bought a new stake in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 763,943 shares of the company’s stock, valued at approximately $19,458,000. Wellington Management Group LLP owned about 1.48% of Bicara Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Turn Management LLC acquired a new position in shares of Bicara Therapeutics during the third quarter worth approximately $14,324,000. Vestal Point Capital LP acquired a new position in shares of Bicara Therapeutics during the third quarter worth approximately $10,825,000. FMR LLC acquired a new position in shares of Bicara Therapeutics during the third quarter worth approximately $57,913,000. Samsara BioCapital LLC acquired a new position in shares of Bicara Therapeutics during the third quarter worth approximately $891,000. Finally, Braidwell LP acquired a new position in shares of Bicara Therapeutics during the third quarter worth approximately $42,219,000.

Insider Activity

In other news, major shareholder James E. Flynn bought 70,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average cost of $18.00 per share, with a total value of $1,260,000.00. Following the purchase, the insider now directly owns 897,587 shares in the company, valued at $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. bought 1,833,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the purchase, the director now owns 4,303,418 shares in the company, valued at approximately $77,461,524. This trade represents a 74.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Bicara Therapeutics Price Performance

Shares of NASDAQ:BCAX opened at $17.50 on Friday. Bicara Therapeutics Inc. has a one year low of $17.30 and a one year high of $28.09. The firm’s fifty day moving average is $21.21.

Bicara Therapeutics (NASDAQ:BCAX) last announced 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). On average, equities research analysts expect that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCAX. Stifel Nicolaus began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price for the company. Morgan Stanley initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price for the company. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, HC Wainwright initiated coverage on Bicara Therapeutics in a research report on Friday, December 6th. They issued a “buy” rating and a $42.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $43.00.

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.