Bicara Therapeutics (NASDAQ:BCAX) Reaches New 12-Month Low – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $10.96 and last traded at $10.95, with a volume of 179112 shares trading hands. The stock had previously closed at $11.83.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. HC Wainwright raised their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Stifel Nicolaus set a $48.00 price objective on shares of Bicara Therapeutics in a report on Thursday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.01 target price on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Finally, Wedbush reissued an “outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bicara Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $36.67.

Bicara Therapeutics Stock Down 10.7 %

The company’s 50 day moving average price is $13.07 and its 200 day moving average price is $17.52.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.08). Sell-side analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new position in Bicara Therapeutics in the fourth quarter worth $25,000. Spire Wealth Management bought a new position in shares of Bicara Therapeutics in the fourth quarter valued at about $31,000. BNP Paribas Financial Markets acquired a new position in Bicara Therapeutics during the 4th quarter worth about $32,000. Legal & General Group Plc bought a new stake in Bicara Therapeutics during the 4th quarter worth about $33,000. Finally, Summit Investment Advisors Inc. acquired a new stake in Bicara Therapeutics in the 4th quarter valued at about $35,000.

About Bicara Therapeutics

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.