Bicara Therapeutics (NASDAQ:BCAX) Trading Down 5.5% - Time to Sell?

Key Points

• Bicara Therapeutics shares dropped 5.5% to $10.45, with a trading volume decline of 81% from the average session.
• Wall Street analysts have mixed ratings for Bicara, with one analyst downgrading it to "sell" while others maintain a "buy" rating and a consensus price target of $32.25.
• Institutional investors are actively trading the stock, with notable increases in holdings from firms like Vestal Point Capital LP and Bank of America Corp, indicating growing interest in the company.

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) was down 5.5% during trading on Friday . The stock traded as low as $10.55 and last traded at $10.45. Approximately 106,440 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 561,886 shares. The stock had previously closed at $11.06.

Analyst Upgrades and Downgrades

BCAX has been the subject of several research analyst reports. HC Wainwright cut their price target on Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a report on Friday, August 22nd. Wedbush reiterated an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a report on Tuesday, August 12th. Finally, Piper Sandler assumed coverage on Bicara Therapeutics in a research note on Monday, August 18th. They set an "overweight" rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Bicara Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $32.25.

Bicara Therapeutics Stock Performance

The firm has a 50-day moving average price of $11.38 and a 200 day moving average price of $11.65.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.04. As a group, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Trading of Bicara Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BCAX. California State Teachers Retirement System acquired a new position in Bicara Therapeutics in the 4th quarter valued at about $25,000. CWM LLC purchased a new position in Bicara Therapeutics in the 1st quarter valued at approximately $29,000. Legal & General Group Plc increased 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 valued at $29,000 after purchasing an additional 1,233 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Bicara Therapeutics in the 4th quarter valued at approximately $32,000. Finally, Ameritas Investment Partners Inc. grew its holdings in Bicara Therapeutics by 73.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,493 shares of the company's stock valued at $32,000 after buying an additional 1,474 shares during the last quarter.

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.