Bicara Therapeutics (NASDAQ:BCAX) Trading Down 8.7% on Disappointing Earnings

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) fell 8.7% during mid-day trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $13.08 and last traded at $12.95. 295,640 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 487,277 shares. The stock had previously closed at $14.19.

The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.28).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BCAX shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.01 price target on shares of Bicara Therapeutics in a research report on Thursday, March 13th. HC Wainwright dropped their price target 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. Wedbush reiterated an "outperform" rating and issued a $31.00 price target on shares of Bicara Therapeutics in a research report on Thursday, March 27th. Stifel Nicolaus set a $48.00 price target on shares of Bicara Therapeutics in a research report on Thursday, March 27th. Finally, Wells Fargo & Company initiated coverage on shares of Bicara Therapeutics in a research report on Thursday, April 17th. They issued an "underweight" rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bicara Therapeutics has an average rating of "Moderate Buy" and an average target price of $32.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC acquired a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at $255,000. SG Americas Securities LLC acquired a new stake in shares of Bicara Therapeutics during the 4th quarter valued at $147,000. Spire Wealth Management acquired a new stake in shares of Bicara Therapeutics during the 4th quarter valued at $31,000. Rhumbline Advisers acquired a new stake in shares of Bicara Therapeutics during the 4th quarter valued at $331,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Bicara Therapeutics during the 4th quarter valued at $701,000.

Bicara Therapeutics Stock Performance

The company has a fifty day moving average of $12.81 and a two-hundred day moving average of $15.25.

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.