Bicara Therapeutics Inc. (NASDAQ:BCAX) Shares Acquired 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 grew its position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 27.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,938 shares of the company's stock after buying an additional 28,518 shares during the quarter. TD Asset Management Inc owned 0.24% of Bicara Therapeutics worth $1,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BCAX. California State Teachers Retirement System purchased a new position in shares of Bicara Therapeutics in the fourth quarter worth $25,000. BNP Paribas Financial Markets purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $32,000. Legal & General Group Plc bought a new position in Bicara Therapeutics during the fourth quarter valued at approximately $33,000. Bank of New York Mellon Corp boosted its holdings in Bicara Therapeutics by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 42,192 shares of the company's stock worth $550,000 after purchasing an additional 1,924 shares during the last quarter. Finally, Summit Investment Advisors Inc. bought a new stake in Bicara Therapeutics in the 4th quarter worth approximately $35,000.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HC Wainwright decreased 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. Wedbush reaffirmed an "outperform" rating and set a $30.00 price target on shares of Bicara Therapeutics in a research note on Friday, May 23rd. Wells Fargo & Company upgraded 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 note on Friday, May 23rd. Finally, Wall Street Zen cut Bicara Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Bicara Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $31.86.

Bicara Therapeutics Stock Performance

NASDAQ BCAX traded down $0.92 during trading hours on Wednesday, hitting $10.44. The company had a trading volume of 259,998 shares, compared to its average volume of 334,503. Bicara Therapeutics Inc. has a 1-year low of $7.80 and a 1-year high of $28.09. The business has a 50 day moving average of $10.39 and a 200-day moving average of $12.00.

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

Bicara Therapeutics 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.