Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 5.5% - Here's Why

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.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush reissued an "outperform" rating and set a $30.00 target price on shares of Bicara Therapeutics in a research note on Tuesday, August 12th. Piper Sandler began coverage on shares of Bicara Therapeutics in a report on Monday, August 18th. They set an "overweight" rating and a $36.00 price target on the stock. Finally, HC Wainwright cut their price target on shares of Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Bicara Therapeutics currently has an average rating of "Buy" and an average target price of $32.25.

Bicara Therapeutics Trading Down 5.6%

The company's fifty day moving average is $11.37 and its 200-day moving average is $11.72. The firm has a market capitalization of $569.61 million and a P/E ratio of -3.29.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted 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. On average, equities research analysts anticipate that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Institutional Trading of Bicara Therapeutics

A number of hedge funds have recently bought and sold shares of BCAX. California State Teachers Retirement System bought a new stake in Bicara Therapeutics in the 4th quarter valued at $25,000. CWM LLC bought a new position in shares of Bicara Therapeutics during the 1st quarter worth about $29,000. Legal & General Group Plc lifted its holdings in shares of Bicara Therapeutics by 64.1% during the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company's stock worth $29,000 after acquiring an additional 1,233 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Bicara Therapeutics during the 4th quarter worth about $32,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Bicara Therapeutics by 73.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,493 shares of the company's stock worth $32,000 after acquiring an additional 1,474 shares during the period.

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.