Bicara Therapeutics (NASDAQ:BCAX) Sees Large Volume Increase - Here's Why

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) saw an uptick in trading volume on Tuesday . 1,108,787 shares changed hands during trading, an increase of 99% from the previous session's volume of 558,146 shares.The stock last traded at $10.79 and had previously closed at $9.90.

Analyst Ratings Changes

A number of research firms recently weighed in on BCAX. Wall Street Zen lowered Bicara Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Bicara Therapeutics in a research report on Friday, May 23rd. HC Wainwright decreased their price objective on Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Cantor Fitzgerald restated an "overweight" rating and set a $13.01 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Finally, Wells Fargo & Company upgraded shares of Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 price target for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $31.86.

Bicara Therapeutics Stock Performance

The firm has a 50-day moving average of $12.35 and a two-hundred day moving average of $14.19.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.28). Analysts forecast that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bicara Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in Bicara Therapeutics by 21.1% in the 1st quarter. Rhumbline Advisers now owns 23,018 shares of the company's stock valued at $300,000 after acquiring an additional 4,010 shares in the last quarter. Woodline Partners LP raised its stake in shares of Bicara Therapeutics by 26.5% in the first quarter. Woodline Partners LP now owns 348,690 shares of the company's stock valued at $4,543,000 after purchasing an additional 72,998 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Bicara Therapeutics in the 1st quarter valued at $248,000. Vestal Point Capital LP raised its stake in shares of Bicara Therapeutics by 290.0% in the 1st quarter. Vestal Point Capital LP now owns 2,768,975 shares of the company's stock valued at $36,080,000 after buying an additional 2,058,975 shares in the last quarter. Finally, Braidwell LP raised its stake in shares of Bicara Therapeutics by 8.1% in the 1st quarter. Braidwell LP now owns 2,162,803 shares of the company's stock valued at $28,181,000 after buying an additional 162,144 shares in the last quarter.

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.