Baker BROS. Advisors LP Makes New Investment in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Baker BROS. Advisors LP purchased a new position in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 833,333 shares of the company’s stock, valued at approximately $21,225,000.

A number of other large investors also recently modified their holdings of the company. FMR LLC acquired a new position in shares of Bicara Therapeutics during the third quarter worth $57,913,000. Braidwell LP purchased a new stake in Bicara Therapeutics during the 3rd quarter worth about $42,219,000. First Turn Management LLC purchased a new stake in Bicara Therapeutics during the 3rd quarter worth about $14,324,000. Vestal Point Capital LP acquired a new position in shares of Bicara Therapeutics during the 3rd quarter worth about $10,825,000. Finally, Walleye Capital LLC acquired a new stake in shares of Bicara Therapeutics during the 3rd quarter worth about $809,000.

Insider Activity

In related news, major shareholder James E. Flynn purchased 70,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was acquired 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the transaction, the director now owns 4,303,418 shares in the company, 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.

Bicara Therapeutics Stock Performance

Shares of BCAX opened at $20.79 on Monday. The business’s 50 day simple moving average is $22.31. Bicara Therapeutics Inc. has a 12-month low of $17.41 and a 12-month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). Analysts anticipate that Bicara Therapeutics Inc. will post -2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus began coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They set a “buy” rating and a $47.00 target price for the company. TD Cowen assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Rodman & Renshaw started coverage on shares of Bicara Therapeutics in a research note on Tuesday, November 5th. They set a “buy” rating and a $48.00 price target on the stock. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley started coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.33.

Bicara Therapeutics 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.