First Tracks Biotherapeutics $TRAX Stake Lowered by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC lessened its holdings in shares of First Tracks Biotherapeutics (NASDAQ:TRAX) by 36.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,748 shares of the company’s stock after selling 19,568 shares during the quarter. Moody Aldrich Partners LLC owned 0.10% of First Tracks Biotherapeutics worth $1,231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. State Street Corp purchased a new stake in First Tracks Biotherapeutics during the 2nd quarter worth approximately $30,439,000. Opaleye Management Inc. acquired a new stake in shares of First Tracks Biotherapeutics during the second quarter worth approximately $1,308,000. Wellington Management Group LLP acquired a new stake in shares of First Tracks Biotherapeutics during the second quarter worth approximately $1,156,000. Tidal Investments LLC acquired a new stake in shares of First Tracks Biotherapeutics during the second quarter worth approximately $622,000. Finally, Corient Private Wealth LP acquired a new stake in shares of First Tracks Biotherapeutics during the second quarter worth approximately $610,000.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRAX. Wall Street Zen raised shares of First Tracks Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 17th. 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 note on Friday, October 16th. Wedbush raised their price objective on shares of 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 raised their price objective on shares of First Tracks Biotherapeutics from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Finally, Piper Sandler boosted their target price on shares of First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.33.

First Tracks Biotherapeutics Stock Performance

Shares of NASDAQ TRAX opened at $45.22 on Friday. The company’s 50 day moving average price is $38.86. First Tracks Biotherapeutics has a 52-week low of $14.72 and a 52-week high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX) last released its earnings results on Wednesday, August 12th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.21). As a group, equities research analysts predict that First Tracks Biotherapeutics will post -4.31 EPS for the current fiscal year.

Insider Activity

In related news, Director J. 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 transaction of $1,758,286.70. Following the sale, the director directly owned 15,660 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink.

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.