Wellington Management Group LLP Makes New Investment in First Tracks Biotherapeutics $TRAX

Wellington Management Group LLP purchased a new position in shares of First Tracks Biotherapeutics (NASDAQ:TRAX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 57,476 shares of the company’s stock, valued at approximately $1,156,000.

Insider Transactions at First Tracks Biotherapeutics

In related news, Director J. Ware sold 39,265 shares of the firm’s stock in a transaction 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 in the company, valued at $701,254.80. This trade represents a 71.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

First Tracks Biotherapeutics Price Performance

Shares of First Tracks Biotherapeutics stock opened at $36.44 on Friday. The company’s 50 day moving average is $40.28. The firm has a market cap of $1.30 billion and a price-to-earnings ratio of -19.80. 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 data on Wednesday, August 12th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.21). Equities research analysts anticipate that First Tracks Biotherapeutics will post -4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wolfe Research assumed coverage on First Tracks Biotherapeutics in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $83.00 price objective for the company. Weiss Ratings assumed coverage on First Tracks Biotherapeutics in a research report on Thursday, August 13th. They set a “sell (d)” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $57.00 price target on shares of First Tracks Biotherapeutics in a research note on Thursday, September 3rd. Wells Fargo & Company raised their price target on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Finally, Barclays raised their price target on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, First Tracks Biotherapeutics has an average rating of “Moderate Buy” and an average price target of $63.00.

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.