Bicara Therapeutics (NASDAQ:BCAX) Announces Quarterly Earnings Results

Bicara Therapeutics (NASDAQ:BCAX) issued its earnings results on Tuesday. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14), Zacks reports.

Bicara Therapeutics Stock Performance

Shares of NASDAQ:BCAX traded up $0.25 during trading on Thursday, hitting $22.25. The stock had a trading volume of 163,282 shares, compared to its average volume of 355,075. Bicara Therapeutics has a 12 month low of $18.33 and a 12 month high of $28.09. The company has a fifty day moving average of $23.43.

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts have weighed in on BCAX shares. TD Cowen assumed coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating for the company. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a research note on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price on the stock. Stifel Nicolaus started 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. Finally, Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set an “overweight” rating on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $43.33.

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.