Bicara Therapeutics Inc. (NASDAQ:BCAX) Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Bicara Therapeutics Inc. by 27.8%, owning a total of 130,938 shares worth $1,706,000 after acquiring an additional 28,518 shares.
• The stock price of Bicara Therapeutics declined by 5.2%, closing at $10.53, with a recent 12-month low of $7.80 and a high of $28.09.
• Bicara Therapeutics reported a quarterly loss of ($0.68) earnings per share, missing analysts' expectations, and is projected to post -2.59 EPS for the year.

TD Asset Management Inc lifted its stake in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 27.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,938 shares of the company's stock after purchasing an additional 28,518 shares during the period. TD Asset Management Inc owned about 0.24% of Bicara Therapeutics worth $1,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BCAX. Atle Fund Management AB purchased a new stake in Bicara Therapeutics during the 1st quarter valued at about $1,561,000. Victory Capital Management Inc. purchased a new stake in Bicara Therapeutics during the 1st quarter valued at about $449,000. CWM LLC purchased a new stake in Bicara Therapeutics during the 1st quarter valued at about $29,000. New York State Common Retirement Fund purchased a new stake in Bicara Therapeutics during the 1st quarter valued at about $52,000. Finally, Bank of New York Mellon Corp grew its stake in Bicara Therapeutics by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 42,192 shares of the company's stock valued at $550,000 after acquiring an additional 1,924 shares in the last quarter.

Bicara Therapeutics Stock Performance

Shares of BCAX stock traded down $0.11 during trading hours on Friday, hitting $10.09. The company had a trading volume of 91,963 shares, compared to its average volume of 615,478. The company's fifty day moving average is $10.41 and its 200 day moving average is $11.99. Bicara Therapeutics Inc. has a fifty-two week low of $7.80 and a fifty-two week 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). As a group, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on BCAX shares. Wall Street Zen cut shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright dropped their price target on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating for the company in a research note 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 target for the company in a research note on Friday, May 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $30.00 price target on shares of Bicara Therapeutics in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has assigned 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 currently has a consensus rating of "Moderate Buy" and an average price target of $31.86.

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.