Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $20.17, but opened at $19.74. Bicara Therapeutics shares last traded at $19.67, with a volume of 21,247 shares traded.

Analyst Upgrades and Downgrades

BCAX has been the subject of several recent analyst reports. TD Cowen began coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating for the company. Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating on the stock. Morgan Stanley initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 target price on the stock. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bicara Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $43.33.

Bicara Therapeutics Stock Down 4.5 %

The firm’s fifty day simple moving average is $23.33.

Bicara Therapeutics (NASDAQ:BCAX) last issued 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). As a group, equities research analysts predict that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling at Bicara Therapeutics

In other Bicara Therapeutics news, major shareholder James E. Flynn acquired 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was bought at an average cost of $18.00 per share, with a total value of $1,260,000.00. Following the acquisition, the insider now owns 897,587 shares in the company, valued at approximately $16,156,566. This represents a 8.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $18.00 per share, with a total value of $32,994,000.00. Following the completion of the acquisition, the director now directly owns 4,303,418 shares of the company’s stock, 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.

Hedge Funds Weigh In On Bicara Therapeutics

A number of large investors have recently modified their holdings of BCAX. Cinctive Capital Management LP bought a new position in Bicara Therapeutics in the 3rd quarter valued at $229,000. Barclays PLC purchased a new stake in shares of Bicara Therapeutics in the third quarter worth $255,000. Jane Street Group LLC bought a new stake in Bicara Therapeutics during the third quarter valued at $309,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Bicara Therapeutics in the 3rd quarter worth about $462,000. Finally, Soros Fund Management LLC bought a new position in Bicara Therapeutics in the 3rd quarter worth about $509,000.

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.