Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down – Should You Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $19.95, but opened at $19.50. Bicara Therapeutics shares last traded at $20.30, with a volume of 17,209 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on BCAX. TD Cowen assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. Morgan Stanley initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price on the stock. Cantor Fitzgerald began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating for the company. Finally, Rodman & Renshaw initiated coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $43.33.

Bicara Therapeutics Stock Up 2.5 %

The stock’s fifty day simple moving average is $21.94.

Bicara Therapeutics (NASDAQ:BCAX) last released its earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($1.14). On average, research analysts expect that Bicara Therapeutics Inc. will post -2.89 EPS for the current year.

Insider Transactions at Bicara Therapeutics

In other news, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the acquisition, the director now directly owns 4,303,418 shares in the company, valued at approximately $77,461,524. This represents a 74.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James E. Flynn bought 70,000 shares of Bicara Therapeutics stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the acquisition, the insider now directly owns 897,587 shares of the company’s stock, valued at $16,156,566. The trade was a 8.46 % increase in their position. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Cinctive Capital Management LP acquired a new stake in shares of Bicara Therapeutics in the third quarter worth $229,000. Barclays PLC acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $255,000. Jane Street Group LLC purchased a new position in Bicara Therapeutics in the third quarter valued at about $309,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Bicara Therapeutics during the third quarter worth about $358,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bicara Therapeutics during the third quarter worth about $462,000.

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.