Foresite Capital Management VI LLC Makes New Investment in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Foresite Capital Management VI LLC purchased a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 950,000 shares of the company’s stock, valued at approximately $16,549,000. Bicara Therapeutics comprises approximately 7.4% of Foresite Capital Management VI LLC’s holdings, making the stock its 5th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Spire Wealth Management acquired a new position in shares of Bicara Therapeutics in the 4th quarter valued at about $31,000. Legal & General Group Plc acquired a new position in shares of Bicara Therapeutics in the 4th quarter valued at about $33,000. Summit Investment Advisors Inc. acquired a new position in shares of Bicara Therapeutics in the 4th quarter valued at about $35,000. Virtus ETF Advisers LLC acquired a new position in shares of Bicara Therapeutics in the 4th quarter valued at about $69,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Bicara Therapeutics by 27.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 29,138 shares of the company’s stock valued at $508,000 after purchasing an additional 6,279 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Bicara Therapeutics Trading Down 7.0 %

Shares of NASDAQ BCAX opened at $14.54 on Monday. Bicara Therapeutics Inc. has a twelve month low of $8.91 and a twelve month high of $28.09. The business has a 50 day simple moving average of $12.79 and a 200-day simple moving average of $16.04.

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

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.