Millennium Management LLC Raises Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Millennium Management LLC boosted its holdings in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 28.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 385,406 shares of the company's stock after purchasing an additional 85,847 shares during the period. Millennium Management LLC owned about 0.71% of Bicara Therapeutics worth $6,714,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Spire Wealth Management acquired a new stake in Bicara Therapeutics in the fourth quarter valued at $31,000. BNP Paribas Financial Markets bought a new position in shares of Bicara Therapeutics during the 4th quarter worth about $32,000. Legal & General Group Plc bought a new position in shares of Bicara Therapeutics during the 4th quarter worth about $33,000. Summit Investment Advisors Inc. bought a new position in shares of Bicara Therapeutics during the 4th quarter worth about $35,000. Finally, Virtus ETF Advisers LLC bought a new position in shares of Bicara Therapeutics during the 4th quarter worth about $69,000.

Bicara Therapeutics Stock Down 1.7%

Shares of BCAX traded down $0.16 during mid-day trading on Friday, reaching $9.28. 632,548 shares of the stock traded hands, compared to its average volume of 545,923. The firm has a fifty day moving average price of $12.54 and a 200 day moving average price of $14.42. Bicara Therapeutics Inc. has a 1 year low of $7.80 and a 1 year high of $28.09.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BCAX shares. Cantor Fitzgerald reissued an "overweight" rating and set a $13.01 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 13th. HC Wainwright cut their price objective on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Wells Fargo & Company raised shares of Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 price objective on the stock in a research report on Friday, May 23rd. Wedbush reiterated an "outperform" rating and set a $30.00 price target on shares of Bicara Therapeutics in a research note on Friday, May 23rd. Finally, Stifel Nicolaus set a $48.00 price objective on Bicara Therapeutics in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.86.

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.