Bicara Therapeutics (NASDAQ:BCAX) Trading Down 7% – Here’s Why

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) dropped 7% during trading on Tuesday . The company traded as low as $14.15 and last traded at $14.29. 222,907 shares changed hands during trading, a decline of 40% from the average session volume of 373,259 shares. The stock had previously closed at $15.36.

Analysts Set New Price Targets

BCAX has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a research report on Wednesday, February 12th. HC Wainwright increased their price target on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Seven 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, the company has an average rating of “Buy” and an average price target of $41.20.

Bicara Therapeutics Stock Down 5.6 %

The business has a 50 day simple moving average of $13.49.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BCAX. RA Capital Management L.P. acquired a new stake in Bicara Therapeutics during the third quarter worth about $177,169,000. Red Tree Management LLC bought a new position in Bicara Therapeutics in the fourth quarter valued at approximately $55,230,000. FMR LLC acquired a new position in Bicara Therapeutics during the third quarter valued at approximately $57,913,000. Adage Capital Partners GP L.L.C. raised its position in Bicara Therapeutics by 171.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock valued at $37,893,000 after purchasing an additional 1,375,265 shares in the last quarter. Finally, Braidwell LP lifted its stake in Bicara Therapeutics by 20.7% during the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company’s stock worth $34,851,000 after purchasing an additional 343,059 shares during 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.