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

Wall Street Analysts Forecast Growth

BCAX has been the subject of several recent analyst reports. Wall Street Zen downgraded Bicara Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. HC Wainwright cut their price objective on Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating for the company in a report on Friday, May 16th. Wedbush reissued an "outperform" rating and issued a $30.00 price objective on shares of Bicara Therapeutics in a report on Friday, May 23rd. Finally, Wells Fargo & Company upgraded 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 analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.86.

Bicara Therapeutics Trading Down 5.5%

The firm has a fifty day simple moving average of $10.43 and a 200-day simple moving average of $11.98.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.28). Equities research analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in Bicara Therapeutics during the 4th quarter worth $25,000. CWM LLC bought a new position in shares of Bicara Therapeutics in the first quarter worth $29,000. BNP Paribas Financial Markets bought a new position in shares of Bicara Therapeutics in the fourth quarter worth $32,000. Legal & General Group Plc bought a new position in shares of Bicara Therapeutics in the fourth quarter worth $33,000. Finally, Summit Investment Advisors Inc. bought a new position in shares of Bicara Therapeutics in the fourth quarter worth $35,000.

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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