Bicara Therapeutics (NASDAQ:BCAX) Trading 10.8% Higher – Time to Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price shot up 10.8% on Tuesday . The stock traded as high as $10.86 and last traded at $10.54. 41,619 shares traded hands during trading, a decline of 91% from the average session volume of 467,094 shares. The stock had previously closed at $9.51.

Wall Street Analyst Weigh In

BCAX has been the subject of a number of analyst reports. Stifel Nicolaus set a $48.00 price objective on shares of Bicara Therapeutics in a report on Thursday, March 27th. HC Wainwright lowered their price objective on shares of Bicara Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday. Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.01 target price on shares of Bicara Therapeutics in a research note on Thursday, March 13th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.50.

Bicara Therapeutics Price Performance

The firm’s 50-day moving average is $12.84 and its 200 day moving average is $17.03.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). On average, equities analysts predict that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicara Therapeutics

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $1,239,000. Wellington Management Group LLP acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $19,458,000. The Manufacturers Life Insurance Company acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $582,000. Barclays PLC bought a new stake in Bicara Therapeutics during the 3rd quarter worth about $255,000. Finally, Jane Street Group LLC acquired a new position in shares of Bicara Therapeutics during the 3rd quarter worth about $309,000.

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.