Bicara Therapeutics (NASDAQ:BCAX) Trading Down 4.5% – Here’s Why

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) were down 4.5% on Tuesday . The company traded as low as $12.68 and last traded at $12.88. Approximately 52,442 shares changed hands during trading, a decline of 85% from the average daily volume of 342,036 shares. The stock had previously closed at $13.48.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BCAX. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective on the stock. HC Wainwright raised 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, Wedbush reissued an “outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a buy rating and one has assigned 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 price target of $41.20.

Bicara Therapeutics Stock Down 2.9 %

The stock’s 50 day simple moving average is $14.83.

Institutional Investors Weigh In On Bicara Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BCAX. Spire Wealth Management bought a new position in Bicara Therapeutics during the 4th quarter valued at about $31,000. BNP Paribas Financial Markets bought a new stake in Bicara Therapeutics during the 4th quarter worth approximately $32,000. Legal & General Group Plc acquired a new stake in Bicara Therapeutics during the 4th quarter valued at $33,000. Summit Investment Advisors Inc. acquired a new stake in Bicara Therapeutics during the 4th quarter valued at $35,000. Finally, Virtus ETF Advisers LLC acquired a new position in Bicara Therapeutics in the fourth quarter worth $69,000.

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.