Bicara Therapeutics (NASDAQ:BCAX) Trading Down 8.6% – Should You Sell?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) fell 8.6% during mid-day trading on Tuesday . The stock traded as low as $11.84 and last traded at $11.89. 71,625 shares traded hands during trading, a decline of 80% from the average session volume of 357,416 shares. The stock had previously closed at $13.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BCAX shares. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Wedbush initiated coverage on Bicara Therapeutics in a report on Thursday, February 6th. They issued an “outperform” rating and a $31.00 price objective for the company. HC Wainwright lifted their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Rodman & Renshaw started coverage on Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Bicara Therapeutics has a consensus rating of “Buy” and a consensus target price of $41.20.

Bicara Therapeutics Price Performance

The business has a 50-day simple moving average of $15.66.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. First Turn Management LLC bought a new stake in Bicara Therapeutics during the third quarter worth approximately $14,324,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at $582,000. FMR LLC bought a new position in Bicara Therapeutics during the third quarter valued at about $57,913,000. Walleye Capital LLC bought a new position in shares of Bicara Therapeutics during the 3rd quarter valued at about $809,000. Finally, Vestal Point Capital LP acquired a new stake in Bicara Therapeutics during the third quarter valued at approximately $10,825,000.

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.