First Tracks Biotherapeutics (NASDAQ:TRAX) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

First Tracks Biotherapeutics (NASDAQ:TRAX) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $66.55.

TRAX has been the subject of several recent research reports. Guggenheim began coverage on First Tracks Biotherapeutics in a research report on Wednesday, September 16th. They issued a “buy” rating and a $100.00 price target for the company. Wedbush raised their price objective on shares of First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Wells Fargo & Company upped their target price on shares of First Tracks Biotherapeutics from $30.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Wolfe Research assumed coverage on shares of First Tracks Biotherapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $83.00 price target for the company. Finally, Barclays raised their price target on shares of First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, August 13th.

Insider Activity

In related news, Director J. Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in First Tracks Biotherapeutics in the second quarter valued at approximately $232,000. Corient Private Wealth LP bought a new position in shares of First Tracks Biotherapeutics in the 2nd quarter worth $610,000. Tidal Investments LLC purchased a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter valued at $622,000. Wellington Management Group LLP purchased a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter valued at $1,156,000. Finally, Opaleye Management Inc. bought a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter worth $1,308,000.

First Tracks Biotherapeutics Trading Down 2.3%

NASDAQ TRAX opened at $35.83 on Friday. The company has a market capitalization of $1.28 billion and a price-to-earnings ratio of -19.47. The company has a 50 day simple moving average of $41.77. 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 released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.21). As a group, equities research analysts expect that First Tracks Biotherapeutics will post -4.31 earnings per share for the current fiscal year.

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.