Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 5.9% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) fell 5.9% on Friday . The company traded as low as $17.88 and last traded at $17.99. 198,289 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 422,191 shares. The stock had previously closed at $19.12.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. Stifel Nicolaus began coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price target on the stock. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target for the company. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Price Performance

The stock has a 50-day moving average of $20.65.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Institutional Investors Weigh In On Bicara Therapeutics

Large investors have recently bought and sold shares of the company. Cinctive Capital Management LP acquired a new stake in shares of Bicara Therapeutics during the third quarter valued at about $229,000. Barclays PLC bought a new position in Bicara Therapeutics in the third quarter worth approximately $255,000. Jane Street Group LLC bought a new stake in Bicara Therapeutics during the 3rd quarter valued at $309,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Bicara Therapeutics in the 3rd quarter worth about $358,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bicara Therapeutics in the third quarter worth approximately $462,000.

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.