Bicara Therapeutics (NASDAQ:BCAX) Shares Down 5.7% – Time to Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price fell 5.7% during trading on Tuesday . The company traded as low as $12.75 and last traded at $12.74. 9,702 shares were traded during mid-day trading, a decline of 98% from the average session volume of 454,145 shares. The stock had previously closed at $13.50.

Analyst Ratings Changes

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

Bicara Therapeutics Price Performance

The stock’s 50-day simple moving average is $13.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new position in Bicara Therapeutics in the third quarter worth $177,169,000. Red Tree Management LLC bought a new stake in Bicara Therapeutics in the 4th quarter valued at about $55,230,000. FMR LLC purchased a new stake in Bicara Therapeutics during the third quarter valued at about $57,913,000. Adage Capital Partners GP L.L.C. boosted its position in 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 purchasing an additional 1,375,265 shares during the period. Finally, Braidwell LP increased its stake in shares of Bicara Therapeutics by 20.7% in the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company’s stock worth $34,851,000 after purchasing an additional 343,059 shares in 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.