Bicara Therapeutics (NASDAQ:BCAX) Trading Down 5.7% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares traded down 5.7% on Tuesday . The company traded as low as $12.75 and last traded at $12.74. 9,702 shares were traded during mid-day trading, a decline of 98% from the average session volume of 454,145 shares. The stock had previously closed at $13.50.

Analyst Upgrades and Downgrades

BCAX has been the subject of several analyst reports. HC Wainwright raised their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a report on Thursday, March 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a report on Wednesday, February 12th. Seven investment 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 a consensus price target of $36.50.

Bicara Therapeutics Trading Down 4.7 %

The business has a 50-day simple moving average of $13.15.

Hedge Funds Weigh In On Bicara Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Spire Wealth Management purchased a new position in shares of Bicara Therapeutics in the fourth quarter valued at about $31,000. BNP Paribas Financial Markets purchased a new position in shares of Bicara Therapeutics in the fourth quarter valued at about $32,000. Legal & General Group Plc bought a new stake in shares of Bicara Therapeutics during the 4th quarter valued at about $33,000. Summit Investment Advisors Inc. bought a new stake in shares of Bicara Therapeutics during the 4th quarter valued at about $35,000. Finally, Virtus ETF Advisers LLC bought a new stake in shares of Bicara Therapeutics during the 4th quarter valued at about $69,000.

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.