Atle Fund Management AB Acquires Shares of 119,833 Bicara Therapeutics Inc. (NASDAQ:BCAX)

Atle Fund Management AB acquired a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 119,833 shares of the company's stock, valued at approximately $1,561,000. Atle Fund Management AB owned about 0.22% of Bicara Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Red Tree Management LLC bought a new stake in shares of Bicara Therapeutics during the fourth quarter valued at about $55,230,000. Adage Capital Partners GP L.L.C. increased its position in shares of Bicara Therapeutics by 171.9% during the fourth 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 buying an additional 1,375,265 shares during the period. Braidwell LP increased its position in shares of Bicara Therapeutics by 20.7% in the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company's stock worth $34,851,000 after purchasing an additional 343,059 shares during the last quarter. Deep Track Capital LP increased its position in shares of Bicara Therapeutics by 151.0% in the fourth quarter. Deep Track Capital LP now owns 2,000,000 shares of the company's stock worth $34,840,000 after purchasing an additional 1,203,148 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Bicara Therapeutics by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,547,180 shares of the company's stock worth $26,953,000 after purchasing an additional 8,246 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stifel Nicolaus set a $48.00 price target on shares of Bicara Therapeutics in a research report on Thursday, March 27th. Wall Street Zen lowered Bicara Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Wedbush reissued an "outperform" rating and set a $30.00 price objective on shares of Bicara Therapeutics in a research note on Friday, May 23rd. Wells Fargo & Company raised Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 price objective for the company in a research note on Friday, May 23rd. Finally, HC Wainwright dropped their price objective on Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $31.86.

Bicara Therapeutics Price Performance

Shares of BCAX stock traded down $0.72 during mid-day trading on Friday, hitting $10.93. The stock had a trading volume of 345,263 shares, compared to its average volume of 590,978. Bicara Therapeutics Inc. has a 12-month low of $7.80 and a 12-month high of $28.09. The firm's 50-day moving average is $10.81 and its two-hundred day moving average is $12.26.

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

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.