Bicara Therapeutics (NASDAQ:BCAX) Trading Up 5.5% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares were up 5.5% on Thursday . The stock traded as high as $12.71 and last traded at $13.08. Approximately 11,501 shares were traded during trading, a decline of 97% from the average daily volume of 454,296 shares. The stock had previously closed at $12.40.

Wall Street Analysts Forecast Growth

BCAX has been the topic of a number of recent research reports. HC Wainwright raised their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wedbush reiterated an “outperform” rating and set a $31.00 price target on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a research note on Thursday, March 13th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bicara Therapeutics has an average rating of “Buy” and a consensus price target of $36.50.

Bicara Therapeutics Price Performance

The business has a fifty day moving average price of $13.03.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC bought a new position in Bicara Therapeutics in the 3rd quarter worth approximately $1,239,000. Vestal Point Capital LP purchased a new stake in shares of Bicara Therapeutics during the third quarter worth $10,825,000. FMR LLC bought a new position in shares of Bicara Therapeutics in the third quarter worth $57,913,000. Braidwell LP purchased a new position in shares of Bicara Therapeutics in the third quarter valued at $42,219,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Bicara Therapeutics during the 3rd quarter valued at $9,474,000.

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.