Bicara Therapeutics (NASDAQ:BCAX) Trading Down 7% – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price dropped 7% during mid-day trading on Tuesday . The company traded as low as $14.15 and last traded at $14.29. Approximately 222,907 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 373,259 shares. The stock had previously closed at $15.36.

Analysts Set New Price Targets

BCAX has been the topic of a number of research analyst reports. HC Wainwright raised their price target on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wedbush restated an “outperform” rating and set a $31.00 target price on shares of Bicara Therapeutics in a report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $41.20.

Bicara Therapeutics Trading Down 5.6 %

The company has a 50-day simple moving average of $13.49.

Hedge Funds Weigh In On Bicara Therapeutics

A number of large investors have recently modified their holdings of the business. RA Capital Management L.P. bought a new stake in Bicara Therapeutics during the third quarter worth about $177,169,000. Red Tree Management LLC acquired a new position in Bicara Therapeutics during the fourth quarter worth $55,230,000. FMR LLC bought a new stake in Bicara Therapeutics during the third quarter worth $57,913,000. Adage Capital Partners GP L.L.C. lifted its stake in Bicara Therapeutics by 171.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock valued at $37,893,000 after acquiring an additional 1,375,265 shares during the last quarter. Finally, Braidwell LP lifted its stake in Bicara Therapeutics by 20.7% in the 4th quarter. Braidwell LP now owns 2,000,659 shares of the company’s stock valued at $34,851,000 after purchasing an additional 343,059 shares during the last quarter.

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.