Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 4.5% – Should You Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price traded down 4.5% during mid-day trading on Tuesday . The company traded as low as $12.68 and last traded at $12.88. 52,442 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 342,036 shares. The stock had previously closed at $13.48.

Analysts Set New Price Targets

Several analysts have commented on BCAX shares. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. HC Wainwright upped their price target on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bicara Therapeutics has a consensus rating of “Buy” and an average target price of $41.20.

Bicara Therapeutics Stock Performance

The stock’s 50-day moving average is $14.49.

Hedge Funds Weigh In On Bicara Therapeutics

A number of hedge funds have recently made changes to their positions in BCAX. RA Capital Management L.P. acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $177,169,000. Red Tree Management LLC purchased a new stake in shares of Bicara Therapeutics in the fourth quarter worth about $55,230,000. FMR LLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at about $57,913,000. Braidwell LP purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at about $42,219,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in Bicara Therapeutics by 171.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock worth $37,893,000 after acquiring an additional 1,375,265 shares in the last quarter.

Bicara Therapeutics Company 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.