Bicara Therapeutics (NASDAQ:BCAX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Bicara Therapeutics reported a quarterly earnings per share (EPS) of ($0.50), exceeding the consensus estimate of ($0.54) by $0.04.
• The company's stock traded up 0.8% on Tuesday, reaching a price of $10.07, with shares experiencing a trading volume of 232,442 compared to an average of 611,544.
• In recent analyst ratings, HC Wainwright and Wedbush issued varying outlooks, while the average rating for Bicara is a "Moderate Buy" with a target price of $31.86.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.04, Zacks reports.

Bicara Therapeutics Trading Up 0.8%

BCAX traded up $0.08 during trading on Tuesday, reaching $10.07. The company's stock had a trading volume of 232,442 shares, compared to its average volume of 611,544. The firm has a fifty day simple moving average of $10.43 and a two-hundred day simple moving average of $11.97. Bicara Therapeutics has a 1 year low of $7.80 and a 1 year high of $28.09.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in Bicara Therapeutics by 103.8% in the 2nd quarter. Rhumbline Advisers now owns 46,911 shares of the company's stock worth $436,000 after purchasing an additional 23,893 shares in the last quarter. Legal & General Group Plc lifted its stake in Bicara Therapeutics by 64.1% in the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company's stock worth $29,000 after purchasing an additional 1,233 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Bicara Therapeutics by 26.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,458 shares of the company's stock worth $255,000 after purchasing an additional 5,664 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bicara Therapeutics by 36.8% in the 2nd quarter. Geode Capital Management LLC now owns 672,485 shares of the company's stock worth $6,248,000 after purchasing an additional 180,833 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in Bicara Therapeutics by 26.5% in the 1st quarter. Woodline Partners LP now owns 348,690 shares of the company's stock worth $4,543,000 after purchasing an additional 72,998 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BCAX shares. HC Wainwright lowered their target price on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Wall Street Zen lowered shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company raised shares of Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 price target on the stock in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bicara Therapeutics has an average rating of "Moderate Buy" and an average target price of $31.86.

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.

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