Bicara Therapeutics (NASDAQ:BCAX) Shares Up 5.5% - Here's Why

Key Points

• Bicara Therapeutics shares increased by 5.5%, reaching a trading high of $14.73 before closing at $14.63, amidst a significant drop in trading volume.
• Analysts have a consensus rating of "Buy" for Bicara Therapeutics, with price targets ranging from $30.00 to $36.00, reflecting positive sentiment about the company's prospects.
• The company reported a quarterly EPS of ($0.50), surpassing analysts' expectations, with a projected EPS of ($2.59) for the current year.

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) shot up 5.5% on Tuesday . The stock traded as high as $14.73 and last traded at $14.63. 34,013 shares changed hands during trading, a decline of 94% from the average session volume of 572,182 shares. The stock had previously closed at $13.87.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BCAX. Piper Sandler began coverage on Bicara Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $36.00 price objective for the company. HC Wainwright cut their price objective on Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned 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 target price of $32.25.

Bicara Therapeutics Stock Performance

The stock has a market capitalization of $821.95 million and a P/E ratio of -4.74. The stock has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $11.58.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced 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. Equities analysts predict that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Institutional Inflows and Outflows

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

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