Bicara Therapeutics (NASDAQ:BCAX) Reaches New 1-Year Low – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) reached a new 52-week low on Friday . The stock traded as low as $10.96 and last traded at $10.95, with a volume of 179112 shares. The stock had previously closed at $11.83.

Analyst Ratings Changes

A number of research firms have recently issued reports on BCAX. HC Wainwright increased their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a research note on Thursday, March 13th. Wedbush restated an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 27th. Finally, Stifel Nicolaus set a $48.00 target price on Bicara Therapeutics in a report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $36.67.

Bicara Therapeutics Stock Down 10.7 %

The stock’s fifty day moving average is $13.07 and its 200-day moving average is $17.52.

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

Institutional Investors Weigh In On Bicara Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Red Tree Management LLC acquired a new stake in shares of Bicara Therapeutics in the fourth quarter worth $55,230,000. FMR LLC bought a new position in Bicara Therapeutics in the 3rd quarter worth $57,913,000. Adage Capital Partners GP L.L.C. lifted its position in Bicara Therapeutics by 171.9% during the 4th 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 last quarter. Deep Track Capital LP boosted its holdings in Bicara Therapeutics by 151.0% during the fourth quarter. Deep Track Capital LP now owns 2,000,000 shares of the company’s stock valued at $34,840,000 after acquiring an additional 1,203,148 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at about $30,329,000.

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.