The Manufacturers Life Insurance Company Purchases New Shares in Bicara Therapeutics Inc. (NASDAQ:BCAX)

The Manufacturers Life Insurance Company purchased a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 22,859 shares of the company’s stock, valued at approximately $582,000.

Separately, First Turn Management LLC bought a new position in shares of Bicara Therapeutics during the 3rd quarter worth approximately $14,324,000.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BCAX shares. TD Cowen started coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating for the company. HC Wainwright started coverage on Bicara Therapeutics in a research note on Friday, December 6th. They issued a “buy” rating and a $42.00 price objective for the company. Rodman & Renshaw started coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Price Performance

NASDAQ:BCAX opened at $17.50 on Friday. The stock has a fifty day moving average price of $21.21. Bicara Therapeutics Inc. has a 1 year low of $17.30 and a 1 year high of $28.09.

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 the consensus estimate of ($0.46) by ($1.14). On average, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS 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.