Bicara Therapeutics (NASDAQ:BCAX) Reaches New 12-Month Low – What’s Next?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.51 and last traded at $11.87, with a volume of 43563 shares. The stock had previously closed at $12.08.

Analysts Set New Price Targets

Several brokerages have recently commented on BCAX. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price for the company. TD Cowen initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating for the company. Cantor Fitzgerald assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating for the company. HC Wainwright initiated coverage on Bicara Therapeutics in a research report on Friday, December 6th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Price Performance

The company’s 50 day moving average price is $17.46.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($1.14). As a group, equities research analysts anticipate that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Bicara Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. acquired a new position in shares of Bicara Therapeutics in the third quarter worth approximately $177,169,000. FMR LLC acquired a new position in shares of Bicara Therapeutics in the 3rd quarter worth approximately $57,913,000. Braidwell LP bought a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at $42,219,000. Janus Henderson Group PLC acquired a new stake in shares of Bicara Therapeutics during the third quarter worth $30,329,000. Finally, Baker BROS. Advisors LP bought a new position in Bicara Therapeutics during the third quarter worth $21,225,000.

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.