Bicara Therapeutics (NASDAQ:BCAX) Stock Price Up 6.7% – Time to Buy?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) shot up 6.7% during trading on Tuesday . The stock traded as high as $12.00 and last traded at $12.25. 44,477 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 582,318 shares. The stock had previously closed at $11.48.

Analyst Ratings Changes

Several analysts have recently weighed in on BCAX shares. HC Wainwright decreased their price target on shares of Bicara Therapeutics from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 16th. Wells Fargo & Company upgraded Bicara Therapeutics from an “underweight” rating to an “equal weight” rating and set a $8.00 price objective on the stock in a report on Friday, May 23rd. Wedbush reaffirmed an “outperform” rating and set a $30.00 target price on shares of Bicara Therapeutics in a research report on Friday, May 23rd. Stifel Nicolaus set a $48.00 price target on Bicara Therapeutics in a research report on Thursday, March 27th. Finally, Wall Street Zen lowered Bicara Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.86.

Bicara Therapeutics Trading Down 5.6%

The business has a fifty day simple moving average of $12.33 and a two-hundred day simple moving average of $14.01.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.28). As a group, equities analysts forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

Large investors have recently added to or reduced their stakes in the company. Red Tree Management LLC acquired a new stake in shares of Bicara Therapeutics in the 4th quarter worth $55,230,000. Vestal Point Capital LP boosted its stake in shares of Bicara Therapeutics by 290.0% in the first quarter. Vestal Point Capital LP now owns 2,768,975 shares of the company’s stock worth $36,080,000 after buying an additional 2,058,975 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Bicara Therapeutics by 171.9% during 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 in the last quarter. Deep Track Capital LP lifted its holdings in Bicara Therapeutics by 151.0% in 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, Vanguard Group Inc. lifted its holdings in Bicara Therapeutics by 1,457.9% in the fourth quarter. Vanguard Group Inc. now owns 1,090,528 shares of the company’s stock valued at $18,997,000 after acquiring an additional 1,020,528 shares during the period.

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.