Bicara Therapeutics (NASDAQ:BCAX) Reaches New 12-Month Low – Should You Sell?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.10 and last traded at $16.34, with a volume of 470590 shares traded. The stock had previously closed at $18.15.

Analyst Ratings Changes

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

Bicara Therapeutics Stock Performance

The business has a 50 day moving average price of $20.90.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($1.14). On average, analysts predict that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

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