Victory Capital Management Inc. Purchases New Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Key Points

• Victory Capital Management Inc. has acquired 34,430 shares of Bicara Therapeutics Inc. (NASDAQ: BCAX), valued at approximately $449,000, representing a 0.06% ownership stake.
• Multiple analysts have issued varying ratings for Bicara Therapeutics, with a consensus rating of "Moderate Buy" and an average target price of $31.86.
• The stock price of Bicara Therapeutics currently stands at $10.53, with a 1-year range between $7.80 and $28.09.

Victory Capital Management Inc. purchased a new stake in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,430 shares of the company's stock, valued at approximately $449,000. Victory Capital Management Inc. owned about 0.06% of Bicara Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. CWM LLC purchased a new stake in shares of Bicara Therapeutics during the first quarter valued at about $29,000. New York State Common Retirement Fund purchased a new position in shares of Bicara Therapeutics in the 1st quarter valued at approximately $52,000. Bank of New York Mellon Corp raised its position in shares of Bicara Therapeutics by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 42,192 shares of the company's stock valued at $550,000 after purchasing an additional 1,924 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Bicara Therapeutics in the 1st quarter valued at approximately $88,000. Finally, Rhumbline Advisers raised its position in shares of Bicara Therapeutics by 21.1% in the 1st quarter. Rhumbline Advisers now owns 23,018 shares of the company's stock valued at $300,000 after purchasing an additional 4,010 shares during the last quarter.

Bicara Therapeutics Price Performance

BCAX traded down $0.97 during trading hours on Wednesday, hitting $10.39. 120,809 shares of the company's stock were exchanged, compared to its average volume of 620,613. The firm has a 50 day moving average of $10.38 and a 200 day moving average of $12.01. Bicara Therapeutics Inc. has a 12-month low of $7.80 and a 12-month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its 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). On average, research analysts forecast that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BCAX has been the topic of several research reports. HC Wainwright cut their price target on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating on the stock in a 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 note on Friday, May 23rd. Wall Street Zen cut shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Bicara Therapeutics in a research note on Friday, May 23rd. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.