Bicara Therapeutics (NASDAQ:BCAX) Trading Up 5.5% – Here’s What Happened

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price shot up 5.5% on Thursday . The company traded as high as $12.71 and last traded at $13.08. 11,501 shares were traded during mid-day trading, a decline of 97% from the average session volume of 454,296 shares. The stock had previously closed at $12.40.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a research report on Wednesday, February 12th. HC Wainwright boosted their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.01 price target on shares of Bicara Therapeutics in a report on Thursday, March 13th. Seven 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.com, Bicara Therapeutics has a consensus rating of “Buy” and an average price target of $36.50.

Bicara Therapeutics Price Performance

The company’s 50 day simple moving average is $12.96.

Hedge Funds Weigh In On Bicara Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCAX. RA Capital Management L.P. bought a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $177,169,000. Red Tree Management LLC acquired a new position in Bicara Therapeutics during the fourth quarter valued at approximately $55,230,000. FMR LLC bought a new stake in Bicara Therapeutics in the third quarter valued at approximately $57,913,000. Braidwell LP acquired a new stake in Bicara Therapeutics in the third quarter worth $42,219,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Bicara Therapeutics by 171.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock worth $37,893,000 after purchasing an additional 1,375,265 shares in the last quarter.

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.