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Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 5.8% - Time to Sell?


Bicara Therapeutics (NASDAQ:BCAX) Stock Price Down 5.8%  - Time to Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price was down 5.8% during trading on Wednesday . The company traded as low as $17.00 and last traded at $17.10. Approximately 40,717 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 354,448 shares. The stock had previously closed at $18.15.

A number of analysts have recently weighed in on BCAX shares. Morgan Stanley started coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set an "overweight" rating and a $35.00 price objective for the company. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, November 5th. They set a "buy" rating and a $48.00 price target for the company. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a "strong-buy" rating in a report on Tuesday, November 5th. HC Wainwright started coverage on shares of Bicara Therapeutics in a research note on Friday, December 6th. They set a "buy" rating and a $42.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an "overweight" rating on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $43.00.

Get Our Latest Stock Report on Bicara Therapeutics

The business has a fifty day simple moving average of $20.98.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly 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). Equities analysts forecast that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new stake in shares of Bicara Therapeutics in the 3rd quarter worth about $177,169,000. FMR LLC purchased a new stake in Bicara Therapeutics in the third quarter worth about $57,913,000. Braidwell LP purchased a new stake in Bicara Therapeutics in the third quarter worth about $42,219,000. Janus Henderson Group PLC bought a new position in shares of Bicara Therapeutics during the third quarter valued at approximately $30,329,000. Finally, Baker BROS. Advisors LP purchased a new position in shares of Bicara Therapeutics during the third quarter valued at approximately $21,225,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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