Bicara Therapeutics (NASDAQ:BCAX) Coverage Initiated at HC Wainwright

Equities research analysts at HC Wainwright started coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a report issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $42.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 99.05% from the company’s previous close.

Other research analysts also recently issued reports about the stock. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. TD Cowen started coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating for the company. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus started 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. Finally, Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bicara Therapeutics currently has an average rating of “Buy” and an average price target of $43.00.

Bicara Therapeutics Stock Up 8.0 %

Shares of Bicara Therapeutics stock opened at $21.10 on Friday. Bicara Therapeutics has a 12 month low of $17.41 and a 12 month high of $28.09. The stock has a fifty day simple moving average of $21.73.

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). As a group, analysts predict that Bicara Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cinctive Capital Management LP acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at about $229,000. Barclays PLC bought a new stake in Bicara Therapeutics during the 3rd quarter valued at approximately $255,000. Jane Street Group LLC acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at approximately $309,000. Teachers Retirement System of The State of Kentucky bought a new position in Bicara Therapeutics in the 3rd quarter worth approximately $358,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bicara Therapeutics in the 3rd quarter worth approximately $462,000.

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.