First Turn Management LLC Makes New Investment in Bicara Therapeutics Inc. (NASDAQ:BCAX)

First Turn Management LLC purchased a new position in Bicara Therapeutics Inc. (NASDAQ:BCAX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 562,391 shares of the company’s stock, valued at approximately $14,324,000. Bicara Therapeutics makes up 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.

Bicara Therapeutics Stock Down 4.8 %

BCAX opened at $19.20 on Tuesday. Bicara Therapeutics Inc. has a 12 month low of $18.33 and a 12 month high of $28.09. The stock has a 50-day moving average of $23.33.

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). Analysts anticipate that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

BCAX has been the subject of a number of research analyst reports. Rodman & Renshaw initiated coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective for the company. 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. Morgan Stanley initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective for the company. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald assumed coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bicara Therapeutics has a consensus rating of “Buy” and a consensus target price of $43.33.

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.