Bicara Therapeutics (NASDAQ:BCAX) Trading Down 4.2% - Here's What Happened

Key Points

• Bicara Therapeutics' shares fell 4.2%, trading at $9.78, significantly below its previous close of $10.20, with a dramatic decline in trading volume of 99%.
• Wall Street analysts have mixed opinions, with one downgrade to sell, a maintained buy rating from others, and a consensus target price of $31.86.
• The company reported a quarterly loss of ($0.68) earnings per share, missing estimates and expects to post -2.59 earnings per share for the fiscal year.

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price dropped 4.2% during mid-day trading on Monday . The stock traded as low as $9.73 and last traded at $9.78. Approximately 4,674 shares changed hands during trading, a decline of 99% from the average daily volume of 612,169 shares. The stock had previously closed at $10.20.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BCAX shares. Wall Street Zen lowered shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright reduced their target price on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Friday, May 16th. 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 report on Friday, May 23rd. Finally, Wedbush reissued an "outperform" rating and set a $30.00 price objective on shares of Bicara Therapeutics in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.86.

Bicara Therapeutics Trading Up 2.0%

The business has a fifty day moving average of $10.43 and a 200-day moving average of $11.95. The firm has a market cap of $635.08 million and a PE ratio of -3.67.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $0.04. On average, equities analysts forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vestal Point Capital LP raised its position in shares of Bicara Therapeutics by 80.6% during the 2nd quarter. Vestal Point Capital LP now owns 5,000,000 shares of the company's stock valued at $46,450,000 after buying an additional 2,231,025 shares in the last quarter. Red Tree Management LLC purchased a new position in shares of Bicara Therapeutics during the fourth quarter worth approximately $55,230,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Bicara Therapeutics by 171.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company's stock worth $37,893,000 after acquiring an additional 1,375,265 shares in the last quarter. Braidwell LP lifted its holdings 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 worth $28,181,000 after acquiring an additional 162,144 shares during the last quarter. Finally, Deep Track Capital LP boosted its stake in shares of Bicara Therapeutics by 151.0% in the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the company's stock valued at $34,840,000 after purchasing an additional 1,203,148 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.