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

Wellington Management Group LLP purchased a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX) during the third quarter, Holdings Channel.com reports. The firm purchased 763,943 shares of the company’s stock, valued at approximately $19,458,000.

A number of other hedge funds have also modified their holdings of the stock. RA Capital Management L.P. acquired a new position in Bicara Therapeutics during the third quarter worth $177,169,000. FMR LLC acquired a new position in Bicara Therapeutics during the third quarter worth $57,913,000. Braidwell LP acquired a new position in Bicara Therapeutics during the third quarter worth $42,219,000. Janus Henderson Group PLC acquired a new position in Bicara Therapeutics during the third quarter worth $30,329,000. Finally, Baker BROS. Advisors LP acquired a new position in Bicara Therapeutics during the third quarter worth $21,225,000.

Analysts Set New Price Targets

BCAX has been the topic of several analyst reports. Rodman & Renshaw initiated 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. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. HC Wainwright started coverage on shares of Bicara Therapeutics in a report on Friday, December 6th. They set a “buy” rating and a $42.00 price target for the company. Cantor Fitzgerald started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating for the company. Finally, Morgan Stanley started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bicara Therapeutics presently has an average rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Price Performance

BCAX stock opened at $17.50 on Friday. The company’s 50-day moving average price is $21.21. Bicara Therapeutics Inc. has a 52-week low of $17.30 and a 52-week high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last released its earnings results 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 fiscal year.

Insider Activity at Bicara Therapeutics

In other Bicara Therapeutics news, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were acquired at an average price of $18.00 per share, with a total value of $1,260,000.00. Following the purchase, the insider now owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Bicara Therapeutics 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.