The Manufacturers Life Insurance Company Has $508,000 Stake in Bicara Therapeutics Inc. (NASDAQ:BCAX)

The Manufacturers Life Insurance Company lifted its position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,138 shares of the company’s stock after buying an additional 6,279 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Bicara Therapeutics worth $508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Bicara Therapeutics by 859.4% during the fourth quarter. Geode Capital Management LLC now owns 466,642 shares of the company’s stock worth $8,131,000 after buying an additional 418,003 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Bicara Therapeutics by 8,768.5% during the fourth quarter. JPMorgan Chase & Co. now owns 64,740 shares of the company’s stock worth $1,128,000 after buying an additional 64,010 shares during the period. Legal & General Group Plc acquired a new position in shares of Bicara Therapeutics during the fourth quarter worth about $33,000. Bank of New York Mellon Corp acquired a new position in shares of Bicara Therapeutics during the fourth quarter worth about $701,000. Finally, Rhumbline Advisers acquired a new position in shares of Bicara Therapeutics during the fourth quarter worth about $331,000.

Bicara Therapeutics Stock Performance

NASDAQ:BCAX opened at $14.47 on Friday. The stock’s 50 day moving average price is $12.81 and its two-hundred day moving average price is $15.31. Bicara Therapeutics Inc. has a 12-month low of $8.91 and a 12-month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.28). Equities analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BCAX. HC Wainwright reduced their price objective on Bicara Therapeutics from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $31.00 target price on shares of Bicara Therapeutics in a report on Thursday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.01 target price on shares of Bicara Therapeutics in a report on Thursday, March 13th. Stifel Nicolaus set a $48.00 target price on Bicara Therapeutics in a report on Thursday, March 27th. Finally, Wells Fargo & Company started coverage on Bicara Therapeutics in a report on Thursday, April 17th. They set an “underweight” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bicara Therapeutics has an average rating of “Moderate Buy” and an average target price of $32.00.

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.