Bicara Therapeutics (NASDAQ:BCAX) Trading Up 5.7% – Should You Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s stock price shot up 5.7% during mid-day trading on Thursday . The stock traded as high as $13.66 and last traded at $13.85. 26,971 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 457,999 shares. The stock had previously closed at $13.10.

Analyst Ratings Changes

A number of research analysts have recently commented on BCAX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $13.01 price target on shares of Bicara Therapeutics in a report on Thursday, March 13th. HC Wainwright raised their target price on shares of Bicara Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Bicara Therapeutics in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $36.50.

Bicara Therapeutics Stock Performance

The stock’s 50 day moving average price is $13.04.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.08). On average, sell-side analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new position in shares of Bicara Therapeutics during the 4th quarter valued at $25,000. Spire Wealth Management acquired a new stake in Bicara Therapeutics during the fourth quarter valued at $31,000. BNP Paribas Financial Markets acquired a new stake in Bicara Therapeutics during the fourth quarter valued at $32,000. Legal & General Group Plc acquired a new position in Bicara Therapeutics in the 4th quarter worth about $33,000. Finally, Summit Investment Advisors Inc. acquired a new position in Bicara Therapeutics in the 4th quarter worth about $35,000.

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.