First Tracks Biotherapeutics (NASDAQ:TRAX) Stock Rating Lowered by Wall Street Zen

First Tracks Biotherapeutics (NASDAQ:TRAX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on the company. Wedbush raised their price target on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Piper Sandler boosted their price objective on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of First Tracks Biotherapeutics in a research note on Thursday. Barclays raised their target price on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Weiss Ratings assumed coverage on First Tracks Biotherapeutics in a research report on Thursday, August 13th. They issued a “sell (d)” rating on the stock. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.00.

First Tracks Biotherapeutics Price Performance

Shares of First Tracks Biotherapeutics stock opened at $40.46 on Friday. The business has a fifty day moving average price of $38.24. The firm has a market capitalization of $1.45 billion and a PE ratio of -21.99. First Tracks Biotherapeutics has a 1-year low of $14.72 and a 1-year high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.21). On average, equities research analysts anticipate that First Tracks Biotherapeutics will post -4.31 EPS for the current year.

Insider Buying and Selling

In other First Tracks Biotherapeutics news, Director J. Anthony Ware sold 39,265 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $44.78, for a total value of $1,758,286.70. Following the completion of the transaction, the director owned 15,660 shares of the company’s stock, valued at $701,254.80. This represents a 71.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of First Tracks Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TRAX. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of First Tracks Biotherapeutics in the second quarter valued at $232,000. Corient Private Wealth LP bought a new position in First Tracks Biotherapeutics in the second quarter worth $610,000. Wellington Management Group LLP acquired a new stake in First Tracks Biotherapeutics during the second quarter worth $1,156,000. Finally, California State Teachers Retirement System acquired a new stake in First Tracks Biotherapeutics during the second quarter worth $10,643,000.

First Tracks Biotherapeutics Company Profile

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.