Bicara Therapeutics (NASDAQ:BCAX) Hits New 12-Month Low – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $15.83 and last traded at $15.95, with a volume of 61229 shares changing hands. The stock had previously closed at $16.69.

Wall Street Analyst Weigh In

BCAX has been the topic of a number of research reports. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price target on the stock. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price objective for the company. TD Cowen began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating on the stock. Finally, HC Wainwright started coverage on Bicara Therapeutics in a research note on Friday, December 6th. They set a “buy” rating and a $42.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Stock Down 3.2 %

The firm has a fifty day moving average of $19.81.

Bicara Therapeutics (NASDAQ:BCAX) last announced its earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($1.14). Equities research analysts anticipate that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BCAX. Barclays PLC bought a new position in shares of Bicara Therapeutics in the 3rd quarter worth $255,000. Teachers Retirement System of The State of Kentucky acquired a new position in Bicara Therapeutics in the third quarter valued at about $358,000. Geode Capital Management LLC bought a new position in Bicara Therapeutics during the third quarter worth about $1,239,000. Jane Street Group LLC acquired a new position in shares of Bicara Therapeutics during the 3rd quarter worth about $309,000. Finally, Wellington Management Group LLP bought a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $19,458,000.

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.