Bicara Therapeutics (NASDAQ:BCAX) Hits New 12-Month High – What’s Next?

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) reached a new 52-week high during trading on Wednesday . The company traded as high as $28.08 and last traded at $26.11, with a volume of 2883 shares. The stock had previously closed at $25.19.

Wall Street Analysts Forecast Growth

BCAX has been the topic of several research reports. TD Cowen initiated coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. Cantor Fitzgerald began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating on the stock. Stifel Nicolaus initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price objective for the company. Rodman & Renshaw began coverage on Bicara Therapeutics in a report on Tuesday. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bicara Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $43.33.

Bicara Therapeutics Stock Down 0.7 %

Insider Activity

In related news, Director Ra Capital Management, L.P. purchased 1,833,000 shares of Bicara Therapeutics stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the transaction, the director now directly owns 4,303,418 shares in the company, valued at $77,461,524. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ra Capital Management, L.P. purchased 1,833,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $32,994,000.00. Following the acquisition, the director now directly owns 4,303,418 shares of the company’s stock, valued at $77,461,524. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $1,260,000.00. Following the acquisition, the insider now owns 897,587 shares in the company, valued at approximately $16,156,566. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bicara Therapeutics stock. First Turn Management LLC bought a new stake in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 562,391 shares of the company’s stock, valued at approximately $14,324,000. Bicara Therapeutics accounts for about 2.3% of First Turn Management LLC’s holdings, making the stock its 24th largest holding. First Turn Management LLC owned 1.09% of Bicara Therapeutics as of its most recent SEC filing.

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.