Bicara Therapeutics Inc. (NASDAQ:BCAX) Receives $43.33 Average PT from Brokerages

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) have received an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $43.33.

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating for the company. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price target for the company. Rodman & Renshaw started coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target for the company. Finally, Morgan Stanley started coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective for the company.

Bicara Therapeutics Stock Performance

Shares of NASDAQ:BCAX opened at $19.20 on Friday. The stock’s 50-day simple moving average is $22.07. Bicara Therapeutics has a 1 year low of $17.41 and a 1 year high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). Analysts anticipate that Bicara Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the completion of the purchase, the insider now directly owns 897,587 shares of the company’s stock, valued at $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $18.00 per share, with a total value of $32,994,000.00. Following the purchase, the director now directly owns 4,303,418 shares of the company’s stock, valued at approximately $77,461,524. The trade was a 74.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Bicara Therapeutics

Several large investors have recently modified their holdings of the stock. Cinctive Capital Management LP purchased a new stake in shares of Bicara Therapeutics during the third quarter worth approximately $229,000. Barclays PLC purchased a new position in Bicara Therapeutics in the third quarter worth $255,000. Jane Street Group LLC purchased a new position in Bicara Therapeutics in the third quarter worth $309,000. Teachers Retirement System of The State of Kentucky purchased a new position in Bicara Therapeutics in the third quarter worth $358,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Bicara Therapeutics in the third quarter worth $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.