Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 7.3% – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares shot up 7.3% on Monday . The stock traded as high as $13.09 and last traded at $13.01. 121,284 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 356,914 shares. The stock had previously closed at $12.13.

Analyst Upgrades and Downgrades

BCAX has been the subject of a number of research analyst reports. Rodman & Renshaw began coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research note on Wednesday. HC Wainwright boosted their price objective on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bicara Therapeutics has a consensus rating of “Buy” and an average target price of $41.20.

Bicara Therapeutics Price Performance

The firm has a 50-day moving average price of $15.27.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($1.14). On average, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Institutional Trading of Bicara Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BCAX. RA Capital Management L.P. bought a new stake in Bicara Therapeutics in the third quarter valued at $177,169,000. FMR LLC purchased a new position in shares of Bicara Therapeutics in the 3rd quarter worth about $57,913,000. Braidwell LP purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter worth approximately $42,219,000. Janus Henderson Group PLC bought a new stake in shares of Bicara Therapeutics in the third quarter valued at $30,329,000. Finally, Vanguard Group Inc. lifted its holdings in Bicara Therapeutics by 1,457.9% during the fourth quarter. Vanguard Group Inc. now owns 1,090,528 shares of the company’s stock valued at $18,997,000 after purchasing an additional 1,020,528 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.