First Tracks Biotherapeutics (TRAX) – What Are Brokerages Thinking About This Stock?

Shares of First Tracks Biotherapeutics (NASDAQ:TRAX) have earned an average rating of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $71.33.

TRAX has been the topic of a number of research analyst reports. Leerink Partners increased their price objective on shares of First Tracks Biotherapeutics from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 16th. Evercore reiterated an “outperform” rating and set a $70.00 price objective on shares of First Tracks Biotherapeutics in a research report on Tuesday, October 13th. UBS Group initiated coverage on shares of First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a “buy” rating on the stock. Barclays lifted 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. Finally, HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of First Tracks Biotherapeutics in a research report on Thursday, September 3rd.

First Tracks Biotherapeutics Price Performance

Shares of NASDAQ:TRAX opened at $43.48 on Tuesday. The company’s fifty day moving average is $38.80. First Tracks Biotherapeutics has a 12-month low of $14.72 and a 12-month high of $49.91.

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

Insider Buying and Selling at First Tracks Biotherapeutics

In related news, Director J. Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction that occurred on 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 owned 15,660 shares of the company’s stock, valued at approximately $701,254.80. This trade represents a 71.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On First Tracks Biotherapeutics

Several institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its holdings in shares of First Tracks Biotherapeutics by 391.9% during the 3rd quarter. Sterling Capital Management LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 772 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in First Tracks Biotherapeutics in the 2nd quarter worth approximately $232,000. Corient Private Wealth LP purchased a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter worth approximately $610,000. Tidal Investments LLC purchased a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter worth approximately $622,000. Finally, Wellington Management Group LLP bought a new position in shares of First Tracks Biotherapeutics during the 2nd quarter valued at approximately $1,156,000.

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.