Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down on Analyst Downgrade

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price gapped down prior to trading on Friday after HC Wainwright lowered their price target on the stock from $44.00 to $41.00. The stock had previously closed at $14.47, but opened at $13.77. HC Wainwright currently has a buy rating on the stock. Bicara Therapeutics shares last traded at $15.05, with a volume of 33,873 shares.

A number of other brokerages also recently weighed in on BCAX. Stifel Nicolaus set a $48.00 price target on shares of Bicara Therapeutics in a report on Thursday, March 27th. Wedbush reissued an “outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a report on Thursday, March 27th. Wells Fargo & Company assumed coverage on shares of Bicara Therapeutics in a report on Thursday, April 17th. They set an “underweight” rating and a $8.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.01 price objective on shares of Bicara Therapeutics in a report on Thursday, March 13th. One equities research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Woodline Partners LP increased its position in shares of Bicara Therapeutics by 26.5% in the first quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock worth $4,543,000 after purchasing an additional 72,998 shares during the last quarter. AQR Capital Management LLC bought a new position in Bicara Therapeutics during the first quarter valued at approximately $248,000. Vestal Point Capital LP grew its position in Bicara Therapeutics by 290.0% during the first quarter. Vestal Point Capital LP now owns 2,768,975 shares of the company’s stock valued at $36,080,000 after acquiring an additional 2,058,975 shares during the last quarter. Braidwell LP grew its position in Bicara Therapeutics by 8.1% during the first quarter. Braidwell LP now owns 2,162,803 shares of the company’s stock valued at $28,181,000 after acquiring an additional 162,144 shares during the last quarter. Finally, DAFNA Capital Management LLC grew its position in Bicara Therapeutics by 100.9% during the first quarter. DAFNA Capital Management LLC now owns 212,001 shares of the company’s stock valued at $2,762,000 after acquiring an additional 106,501 shares during the last quarter.

Bicara Therapeutics Stock Performance

The business’s 50-day simple moving average is $12.81 and its 200 day simple moving average is $15.31.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.28). On average, equities research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

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.