Bicara Therapeutics (NASDAQ:BCAX) Trading Up 5.6% – Here’s What Happened

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) shot up 5.6% during trading on Monday . The stock traded as high as $12.72 and last traded at $12.84. 49,869 shares were traded during mid-day trading, a decline of 89% from the average session volume of 469,166 shares. The stock had previously closed at $12.16.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BCAX shares. Wedbush restated an “outperform” rating and set a $31.00 price target on shares of Bicara Therapeutics in a report on Thursday, March 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.01 target price on shares of Bicara Therapeutics in a research note on Thursday, March 13th. HC Wainwright cut their price target on shares of Bicara Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company began coverage on Bicara Therapeutics in a research report on Thursday, April 17th. They issued an “underweight” rating and a $8.00 price objective for the company. Finally, Stifel Nicolaus set a $48.00 target price on Bicara Therapeutics in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bicara Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

Bicara Therapeutics Stock Up 9.2 %

The business’s 50 day simple moving average is $12.67 and its two-hundred day simple moving average is $16.21.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in shares of Bicara Therapeutics during the 3rd quarter worth approximately $309,000. Barclays PLC bought a new position in Bicara Therapeutics in the 3rd quarter valued at $255,000. Geode Capital Management LLC bought a new position in Bicara Therapeutics in the 3rd quarter valued at $1,239,000. SG Americas Securities LLC purchased a new stake in shares of Bicara Therapeutics during the 4th quarter valued at $147,000. Finally, Spire Wealth Management bought a new stake in shares of Bicara Therapeutics during the 4th quarter worth $31,000.

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.