Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 7.3% - Here's Why

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price was up 7.3% during trading on Monday . The company traded as high as $9.38 and last traded at $9.35. Approximately 390,517 shares changed hands during trading, a decline of 35% from the average daily volume of 597,666 shares. The stock had previously closed at $8.71.

Wall Street Analysts Forecast Growth

BCAX has been the topic of a number of research analyst reports. HC Wainwright lowered their price target on Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Wall Street Zen lowered Bicara Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wells Fargo & Company raised shares of Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 target price for the company in a report on Friday, May 23rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.01 target price on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Finally, Stifel Nicolaus set a $48.00 price target on shares of Bicara Therapeutics in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.86.

Bicara Therapeutics Trading Up 5.5%

The firm's 50-day moving average price is $12.06 and its two-hundred day moving average price is $13.06.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.28). Analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Institutional Investors Weigh In On Bicara Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Red Tree Management LLC acquired a new stake in shares of Bicara Therapeutics during the 4th quarter worth about $55,230,000. Vestal Point Capital LP increased its position in shares of Bicara Therapeutics by 290.0% during the first quarter. Vestal Point Capital LP now owns 2,768,975 shares of the company's stock valued at $36,080,000 after acquiring an additional 2,058,975 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Bicara Therapeutics by 171.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company's stock valued at $37,893,000 after acquiring an additional 1,375,265 shares during the period. Braidwell LP lifted its holdings in shares of Bicara Therapeutics by 8.1% in the 1st quarter. Braidwell LP now owns 2,162,803 shares of the company's stock worth $28,181,000 after acquiring an additional 162,144 shares during the last quarter. Finally, Deep Track Capital LP lifted its holdings in shares of Bicara Therapeutics by 151.0% in the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the company's stock worth $34,840,000 after acquiring an additional 1,203,148 shares during 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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