Iron Triangle Partners LP Buys New Holdings in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Iron Triangle Partners LP bought a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $5,094,000. Bicara Therapeutics accounts for 0.7% of Iron Triangle Partners LP’s holdings, making the stock its 24th biggest holding. Iron Triangle Partners LP owned 0.39% of Bicara Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in BCAX. Janus Henderson Group PLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at $30,329,000. Cinctive Capital Management LP bought a new position in shares of Bicara Therapeutics during the third quarter valued at approximately $229,000. Baker BROS. Advisors LP acquired a new stake in shares of Bicara Therapeutics in the third quarter worth $21,225,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bicara Therapeutics in the third quarter valued at $462,000. Finally, Braidwell LP bought a new stake in Bicara Therapeutics during the 3rd quarter worth approximately $42,219,000.

Insider Activity

In other news, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $18.00 per share, with a total value of $32,994,000.00. Following the completion of the acquisition, the director now directly owns 4,303,418 shares in the company, valued at $77,461,524. This represents a 74.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was acquired at an average cost of $18.00 per share, with a total value of $1,260,000.00. Following the completion of the acquisition, the insider now directly owns 897,587 shares in the company, valued at $16,156,566. The trade was a 8.46 % increase in their position. The disclosure for this purchase can be found here.

Bicara Therapeutics Stock Performance

NASDAQ BCAX opened at $20.01 on Tuesday. The stock’s 50 day simple moving average is $22.20. Bicara Therapeutics Inc. has a one year low of $17.41 and a one year high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data 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). Analysts forecast that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating for the company. TD Cowen assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating on the stock. Morgan Stanley began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Rodman & Renshaw initiated 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 on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bicara Therapeutics presently has an average rating of “Buy” and a consensus target price of $43.33.

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.