Vestal Point Capital LP Buys Shares of 425,000 Bicara Therapeutics Inc. (NASDAQ:BCAX)

Vestal Point Capital LP bought a new stake in Bicara Therapeutics Inc. (NASDAQ:BCAX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 425,000 shares of the company’s stock, valued at approximately $10,825,000. Bicara Therapeutics comprises about 0.8% of Vestal Point Capital LP’s investment portfolio, making the stock its 29th largest holding. Vestal Point Capital LP owned 0.82% of Bicara Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in BCAX. The Manufacturers Life Insurance Company purchased a new position in shares of Bicara Therapeutics during the third quarter worth $582,000. Walleye Capital LLC purchased a new stake in Bicara Therapeutics in the 3rd quarter valued at $809,000. First Turn Management LLC acquired a new stake in shares of Bicara Therapeutics during the 3rd quarter worth approximately $14,324,000. Finally, FMR LLC acquired a new position in Bicara Therapeutics in the third quarter valued at about $57,913,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen started coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued 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 on the stock. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target for the company. Morgan Stanley started coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $43.33.

Bicara Therapeutics Stock Performance

Shares of NASDAQ BCAX opened at $20.96 on Friday. Bicara Therapeutics Inc. has a 12-month low of $17.41 and a 12-month high of $28.09. The business has a 50 day moving average of $22.40.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data 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). On average, research analysts forecast that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling at Bicara Therapeutics

In other news, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $18.00 per share, with a total value of $32,994,000.00. Following the acquisition, the director now owns 4,303,418 shares of the company’s stock, valued at $77,461,524. This trade represents a 74.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James E. Flynn bought 70,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $1,260,000.00. Following the purchase, the insider now owns 897,587 shares of the company’s stock, valued at $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.