Wells Fargo & Company Upgrades Bicara Therapeutics (NASDAQ:BCAX) to Equal Weight

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) was upgraded by Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $8.00 price objective on the stock. Wells Fargo & Company's price target would indicate a potential downside of 7.57% from the stock's previous close.

A number of other brokerages have also recently weighed in on BCAX. Wall Street Zen cut shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday. Wedbush reaffirmed an "outperform" rating and set a $30.00 price target on shares of Bicara Therapeutics in a research report on Friday. Cantor Fitzgerald restated an "overweight" rating and set a $13.01 target price on shares of Bicara Therapeutics in a report on Thursday, March 13th. Stifel Nicolaus set a $48.00 price target on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Finally, HC Wainwright lowered their price objective on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bicara Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $31.86.

Bicara Therapeutics Stock Down 44.7%

BCAX traded down $7.01 during trading on Friday, reaching $8.66. 5,233,935 shares of the company's stock were exchanged, compared to its average volume of 521,514. Bicara Therapeutics has a fifty-two week low of $7.82 and a fifty-two week high of $28.09. The business has a 50 day moving average price of $12.97 and a 200 day moving average price of $15.07.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.28). On average, analysts anticipate that Bicara Therapeutics will post -2.59 EPS for the current year.

Institutional Trading of Bicara Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of BCAX. Red Tree Management LLC bought a new position in shares of Bicara Therapeutics during the fourth quarter worth approximately $55,230,000. Vestal Point Capital LP grew its position in Bicara Therapeutics by 290.0% during the first quarter. Vestal Point Capital LP now owns 2,768,975 shares of the company's stock worth $36,080,000 after buying an additional 2,058,975 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Bicara Therapeutics by 171.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company's stock worth $37,893,000 after acquiring an additional 1,375,265 shares during the period. Deep Track Capital LP raised its holdings in Bicara Therapeutics by 151.0% in the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the company's stock valued at $34,840,000 after acquiring an additional 1,203,148 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Bicara Therapeutics by 1,457.9% in the 4th quarter. Vanguard Group Inc. now owns 1,090,528 shares of the company's stock valued at $18,997,000 after acquiring an additional 1,020,528 shares in the last quarter.

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.

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