Red Tree Management LLC Makes New $55.23 Million Investment in Bicara Therapeutics Inc. (NASDAQ:BCAX)

Red Tree Management LLC acquired a new stake in shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,170,509 shares of the company’s stock, valued at approximately $55,230,000. Bicara Therapeutics comprises about 36.3% of Red Tree Management LLC’s portfolio, making the stock its 2nd largest holding. Red Tree Management LLC owned about 0.06% of Bicara Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BCAX. Spire Wealth Management bought a new stake in shares of Bicara Therapeutics in the 4th quarter worth approximately $31,000. BNP Paribas Financial Markets bought a new position in Bicara Therapeutics in the 4th quarter worth $32,000. Legal & General Group Plc bought a new stake in shares of Bicara Therapeutics during the 4th quarter valued at about $33,000. Summit Investment Advisors Inc. purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at about $35,000. Finally, Virtus ETF Advisers LLC bought a new position in Bicara Therapeutics in the fourth quarter worth about $69,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BCAX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.01 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 13th. HC Wainwright lowered their price objective on Bicara Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Wedbush reissued an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Stifel Nicolaus set a $48.00 target price on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Finally, Wells Fargo & Company initiated coverage on shares of Bicara Therapeutics in a report on Thursday, April 17th. They set an “underweight” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Bicara Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

Bicara Therapeutics Trading Up 5.1%

Shares of BCAX opened at $13.70 on Thursday. The business’s fifty day simple moving average is $12.82 and its two-hundred day simple moving average is $15.43. Bicara Therapeutics Inc. has a 12 month low of $8.91 and a 12 month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.28). Equities analysts expect that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current year.

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.