The Manufacturers Life Insurance Company Takes $582,000 Position in Bicara Therapeutics Inc. (NASDAQ:BCAX)

The Manufacturers Life Insurance Company acquired a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,859 shares of the company’s stock, valued at approximately $582,000.

Separately, First Turn Management LLC acquired a new stake in Bicara Therapeutics during the 3rd quarter worth about $14,324,000.

Analyst Ratings Changes

BCAX has been the topic of a number of recent analyst reports. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald started coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating on the stock. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price objective for the company. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Morgan Stanley began coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating and a $35.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $43.00.

Bicara Therapeutics Stock Down 3.0 %

Shares of Bicara Therapeutics stock opened at $17.50 on Friday. Bicara Therapeutics Inc. has a 52 week low of $17.30 and a 52 week high of $28.09. The firm has a 50 day moving average price of $21.21.

Bicara Therapeutics (NASDAQ:BCAX) last issued its earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, research analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

Insider Buying and Selling at Bicara Therapeutics

In related 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 purchased at an average cost of $18.00 per share, with a total value of $32,994,000.00. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James E. Flynn acquired 70,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was bought at an average cost of $18.00 per share, with a total value of $1,260,000.00. Following the completion of the purchase, the insider now owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. The trade was a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.