Bicara Therapeutics (NASDAQ:BCAX) Raised to "Equal Weight" at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Bicara Therapeutics (NASDAQ:BCAX - Free Report) from an underweight rating to an equal weight rating in a report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has $8.00 price objective on the stock.

A number of other analysts have also recently weighed in on BCAX. Stifel Nicolaus set a $48.00 price objective on shares of Bicara Therapeutics in a report on Thursday, March 27th. HC Wainwright cut their target price on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.01 target price on shares of Bicara Therapeutics in a report on Thursday, March 13th. Wedbush reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Bicara Therapeutics in a report on Friday, May 23rd. Finally, Wall Street Zen cut shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.86.

Bicara Therapeutics Stock Down 5.2%

Shares of BCAX traded down $0.52 during mid-day trading on Friday, hitting $9.46. 785,920 shares of the company's stock were exchanged, compared to its average volume of 542,545. Bicara Therapeutics has a fifty-two week low of $7.80 and a fifty-two week high of $28.09. The stock's 50-day moving average is $12.78 and its 200-day moving average is $14.70.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.28). Analysts forecast that Bicara Therapeutics will post -2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicara Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BCAX. SG Americas Securities LLC purchased a new stake in shares of Bicara Therapeutics in the 4th quarter worth about $147,000. Spire Wealth Management acquired a new stake in Bicara Therapeutics during the 4th quarter worth approximately $31,000. Rhumbline Advisers acquired a new stake in Bicara Therapeutics during the 4th quarter worth approximately $331,000. Bank of New York Mellon Corp acquired a new stake in Bicara Therapeutics during the 4th quarter worth approximately $701,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Bicara Therapeutics in the 4th quarter worth approximately $2,731,000.

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.