Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 5.9% – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BCAX. HC Wainwright initiated coverage on Bicara Therapeutics in a report on Friday, December 6th. They set a “buy” rating and a $42.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating for the company. TD Cowen assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating on the stock. Finally, Morgan Stanley assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $43.00.

Bicara Therapeutics Trading Down 4.4 %

The company 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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, analysts forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors have recently made changes to their positions in the business. Barclays PLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $255,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Bicara Therapeutics during the 3rd quarter valued at $358,000. Geode Capital Management LLC purchased a new stake in shares of Bicara Therapeutics in the third quarter worth approximately $1,239,000. Jane Street Group LLC acquired a new stake in Bicara Therapeutics during the third quarter valued at $309,000. Finally, Wellington Management Group LLP acquired a new stake in Bicara Therapeutics in the third quarter valued at approximately $19,458,000.

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.