Wells Fargo & Company Initiates Coverage on Bicara Therapeutics (NASDAQ:BCAX)

Investment analysts at Wells Fargo & Company assumed coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a report issued on Thursday, MarketBeat reports. The firm set an “underweight” rating and a $8.00 price target on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 34.21% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald reissued 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 target on Bicara Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Finally, Stifel Nicolaus set a $48.00 target price on Bicara Therapeutics in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.43.

Bicara Therapeutics Price Performance

Bicara Therapeutics stock opened at $12.16 on Thursday. Bicara Therapeutics has a fifty-two week low of $8.91 and a fifty-two week high of $28.09. The stock has a 50-day simple moving average of $12.67 and a 200-day simple moving average of $16.41.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). On average, research analysts anticipate that Bicara Therapeutics will post -2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC purchased a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $1,239,000. Barclays PLC acquired a new stake in Bicara Therapeutics in the third quarter valued at $255,000. Bank of New York Mellon Corp purchased a new stake in shares of Bicara Therapeutics during the 4th quarter worth $701,000. Jane Street Group LLC purchased a new stake in shares of Bicara Therapeutics during the 3rd quarter worth $309,000. Finally, Rhumbline Advisers acquired a new position in shares of Bicara Therapeutics during the 4th quarter worth $331,000.

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.