Bicara Therapeutics (NASDAQ:BCAX) Trading Down 5.7% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares dropped 5.7% on Tuesday . The company traded as low as $12.75 and last traded at $12.74. Approximately 9,702 shares changed hands during trading, a decline of 98% from the average daily volume of 454,145 shares. The stock had previously closed at $13.50.

Analyst Ratings Changes

BCAX has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $31.00 target price on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.01 price objective on shares of Bicara Therapeutics in a research note on Thursday, March 13th. Finally, HC Wainwright boosted their price objective on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research note 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 currently has a consensus rating of “Buy” and an average target price of $36.50.

Bicara Therapeutics Stock Performance

The company has a 50 day moving average of $13.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spire Wealth Management bought a new position in shares of Bicara Therapeutics in the fourth quarter worth approximately $31,000. BNP Paribas Financial Markets bought a new position in shares of Bicara Therapeutics in the fourth quarter worth approximately $32,000. Legal & General Group Plc bought a new position in shares of Bicara Therapeutics in the fourth quarter worth approximately $33,000. Summit Investment Advisors Inc. bought a new position in shares of Bicara Therapeutics in the fourth quarter worth approximately $35,000. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at approximately $69,000.

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.