Bicara Therapeutics (NASDAQ:BCAX) Shares Up 6.7% – Still a Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares rose 6.7% on Friday . The company traded as high as $13.17 and last traded at $13.19. Approximately 129,790 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 362,154 shares. The stock had previously closed at $12.36.

Wall Street Analyst Weigh In

BCAX has been the subject of a number of research reports. Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target for the company. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Bicara Therapeutics in a report on Wednesday, February 12th. Finally, HC Wainwright upped their target price 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $41.20.

Bicara Therapeutics Trading Up 7.6 %

The company has a 50 day moving average price of $13.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. acquired a new position in shares of Bicara Therapeutics during the third quarter worth about $177,169,000. Red Tree Management LLC acquired a new position in shares of Bicara Therapeutics during the fourth quarter worth about $55,230,000. FMR LLC acquired a new position in shares of Bicara Therapeutics during the third quarter worth about $57,913,000. Adage Capital Partners GP L.L.C. increased its stake in shares of 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 worth $37,893,000 after acquiring an additional 1,375,265 shares during the period. Finally, Braidwell LP increased its stake in shares of 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 acquiring an additional 343,059 shares during the period.

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.