Bicara Therapeutics (NASDAQ:BCAX) Shares Down 6.6% – Should You Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price was down 6.6% during mid-day trading on Tuesday . The stock traded as low as $12.94 and last traded at $12.89. Approximately 307,814 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 438,531 shares. The stock had previously closed at $13.80.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Bicara Therapeutics in a research report on Thursday. Finally, HC Wainwright increased their price target on Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $36.50.

Bicara Therapeutics Stock Up 2.3 %

The stock has a 50 day simple moving average of $12.98.

Institutional Trading of Bicara Therapeutics

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new stake in Bicara Therapeutics in the 3rd quarter worth approximately $582,000. FMR LLC bought a new stake in shares of Bicara Therapeutics in the 3rd quarter worth about $57,913,000. Walleye Capital LLC purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at about $809,000. Vestal Point Capital LP bought a new position in shares of Bicara Therapeutics in the 3rd quarter valued at about $10,825,000. Finally, Braidwell LP purchased a new position in Bicara Therapeutics in the third quarter worth about $42,219,000.

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.