J. Anthony Ware Sells 39,265 Shares of First Tracks Biotherapeutics (NASDAQ:TRAX) Stock

First Tracks Biotherapeutics (NASDAQ:TRAX) Director J. Anthony Ware sold 39,265 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $44.78, for a total transaction of $1,758,286.70. Following the sale, the director directly owned 15,660 shares in the company, valued at $701,254.80. This represents a 71.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

First Tracks Biotherapeutics Trading Down 4.8%

NASDAQ TRAX opened at $40.46 on Friday. First Tracks Biotherapeutics has a 1-year low of $14.72 and a 1-year high of $49.91. The business’s 50 day moving average price is $38.24. The firm has a market capitalization of $1.45 billion and a price-to-earnings ratio of -21.99.

First Tracks Biotherapeutics (NASDAQ:TRAX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.21). Research analysts expect that First Tracks Biotherapeutics will post -4.31 earnings per share for the current year.

Institutional Investors Weigh In On First Tracks Biotherapeutics

Large investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in First Tracks Biotherapeutics during the 2nd quarter worth about $232,000. Corient Private Wealth LP acquired a new stake in First Tracks Biotherapeutics in the second quarter valued at $610,000. Wellington Management Group LLP acquired a new stake in First Tracks Biotherapeutics in the second quarter valued at $1,156,000. Finally, California State Teachers Retirement System bought a new position in shares of First Tracks Biotherapeutics in the 2nd quarter valued at about $10,643,000.

Analyst Ratings Changes

Several brokerages have recently commented on TRAX. Wedbush increased their target price on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Wells Fargo & Company lifted their target price on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Barclays boosted their price target on shares of First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. UBS Group raised their price target on First Tracks Biotherapeutics from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Piper Sandler lifted their price objective on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, First Tracks Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

About First Tracks Biotherapeutics

First Tracks Biotherapeutics is a clinical stage biotechnology company advancing antibody therapies which modulate immune pathways implicated in autoimmune and inflammatory diseases. Its pipeline includes ANB033 and ANB101. First Tracks Biotherapeutics is based in SAN DIEGO.