Atle Fund Management AB Acquires 27,547 Shares of Bicara Therapeutics Inc. $BCAX

Key Points

• Atle Fund Management AB increased its stake in Bicara Therapeutics by 23.0% during the second quarter, now owning 147,380 shares valued at approximately $1,369,000.
• The current stock price of Bicara Therapeutics is $10.44, down 5.6%, with a market capitalization of $569.61 million and a 12-month range between $7.80 and $28.09.
• Analyst ratings for Bicara Therapeutics are mostly positive, with one Strong Buy, eight Buy, and one Hold rating, and an average price target of $32.25.

Atle Fund Management AB grew its stake in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 23.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,380 shares of the company's stock after acquiring an additional 27,547 shares during the period. Atle Fund Management AB owned 0.27% of Bicara Therapeutics worth $1,369,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BCAX. Rhumbline Advisers lifted its holdings in Bicara Therapeutics by 21.1% during the 1st quarter. Rhumbline Advisers now owns 23,018 shares of the company's stock worth $300,000 after purchasing an additional 4,010 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Bicara Therapeutics by 26.5% in the first quarter. Woodline Partners LP now owns 348,690 shares of the company's stock worth $4,543,000 after buying an additional 72,998 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Bicara Therapeutics in the first quarter worth about $248,000. Vestal Point Capital LP boosted its position in shares of Bicara Therapeutics by 290.0% in 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 period. Finally, Braidwell LP grew its stake in Bicara Therapeutics by 8.1% during the first quarter. Braidwell LP now owns 2,162,803 shares of the company's stock valued at $28,181,000 after acquiring an additional 162,144 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have commented on BCAX shares. Wedbush reissued an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a report on Tuesday, August 12th. HC Wainwright lowered their price objective on Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Finally, Piper Sandler initiated coverage on Bicara Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $36.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $32.25.

Bicara Therapeutics Price Performance

Bicara Therapeutics stock traded down $0.30 during trading hours on Tuesday, reaching $10.46. The company had a trading volume of 155,751 shares, compared to its average volume of 564,673. Bicara Therapeutics Inc. has a 12-month low of $7.80 and a 12-month high of $28.09. The company has a 50-day moving average price of $11.38 and a 200 day moving average price of $11.65. The firm has a market cap of $570.42 million and a price-to-earnings ratio of -3.32.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last issued its earnings results 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. As a group, research analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

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.