Wellington Management Group LLP Purchases 636,708 Shares of Bicara Therapeutics Inc. $BCAX

Key Points

• Wellington Management Group LLP significantly increased its holdings in Bicara Therapeutics by 84% during Q1, owning 1,394,676 shares worth approximately $18.17 million as of the latest SEC filing.
• Bicara Therapeutics' stock price recently opened at $11.32 and is currently facing a downward trend, down by 4.4%, with a market capitalization of $617.65 million.
• Research analysts have mixed views on BCAX, with Piper Sandler giving an "overweight" rating and a price target of $36.00, while Wells Fargo downgraded the stock to an "equal weight" rating with a price target of $8.00.

Wellington Management Group LLP lifted its holdings in Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) by 84.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,394,676 shares of the company's stock after purchasing an additional 636,708 shares during the period. Wellington Management Group LLP owned 2.56% of Bicara Therapeutics worth $18,173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BCAX. JPMorgan Chase & Co. lifted its position in Bicara Therapeutics by 8,768.5% during the 4th quarter. JPMorgan Chase & Co. now owns 64,740 shares of the company's stock worth $1,128,000 after acquiring an additional 64,010 shares during the last quarter. Wells Fargo & Company MN acquired a new position in Bicara Therapeutics during the 4th quarter worth $175,000. Invesco Ltd. acquired a new position in Bicara Therapeutics during the 4th quarter worth $267,000. Legal & General Group Plc acquired a new position in Bicara Therapeutics during the 4th quarter worth $33,000. Finally, Barclays PLC lifted its position in Bicara Therapeutics by 201.1% during the 4th quarter. Barclays PLC now owns 30,107 shares of the company's stock worth $524,000 after acquiring an additional 20,107 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BCAX shares. Wells Fargo & Company raised shares of Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 target price for the company in a research report on Friday, May 23rd. Wall Street Zen lowered shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Piper Sandler initiated coverage on shares of Bicara Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $36.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Bicara Therapeutics in a research report on Tuesday, August 12th. Finally, HC Wainwright cut their price objective on shares of Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $32.25.

Bicara Therapeutics Trading Down 0.9%

NASDAQ BCAX traded down $0.11 on Thursday, reaching $11.91. The company's stock had a trading volume of 244,362 shares, compared to its average volume of 311,966. The firm has a market cap of $649.81 million and a PE ratio of -3.76. The business has a 50-day moving average price of $10.59 and a 200 day moving average price of $11.89. Bicara Therapeutics Inc. has a 52 week low of $7.80 and a 52 week high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.04. Analysts anticipate that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal 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.