Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Down – Here’s Why

Bicara Therapeutics Inc. (NASDAQ:BCAX) shares gapped down prior to trading on Monday . The stock had previously closed at $12.42, but opened at $12.03. Bicara Therapeutics shares last traded at $12.21, with a volume of 12,488 shares changing hands.

Analyst Upgrades and Downgrades

BCAX has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.01 price target on shares of Bicara Therapeutics in a research note on Thursday, March 13th. HC Wainwright lifted their price target on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bicara Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $36.50.

Bicara Therapeutics Trading Down 7.9 %

The company has a 50-day simple moving average of $13.08.

Institutional Trading of Bicara Therapeutics

A number of institutional investors have recently made changes to their positions in BCAX. RA Capital Management L.P. bought a new stake in shares of Bicara Therapeutics in the third quarter worth $177,169,000. Red Tree Management LLC bought a new stake in shares of Bicara Therapeutics in the fourth quarter worth $55,230,000. FMR LLC bought a new stake in shares of Bicara Therapeutics in the third quarter worth $57,913,000. Braidwell LP acquired a new position in Bicara Therapeutics during the third quarter worth $42,219,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings 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 worth $37,893,000 after buying an additional 1,375,265 shares during the last quarter.

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.