First Tracks Biotherapeutics (NASDAQ:TRAX) Posts Earnings Results

First Tracks Biotherapeutics (NASDAQ:TRAX) released its quarterly earnings results on Tuesday. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04, Zacks reports.

First Tracks Biotherapeutics Price Performance

NASDAQ TRAX traded up $1.29 on Tuesday, reaching $46.34. The company had a trading volume of 410,048 shares, compared to its average volume of 721,587. The stock has a market cap of $1.95 billion and a PE ratio of -25.18. First Tracks Biotherapeutics has a 12 month low of $14.72 and a 12 month high of $49.91. The stock’s 50 day moving average is $38.96.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TRAX. Guggenheim initiated coverage on shares of First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a “buy” rating and a $100.00 price objective on the stock. Wolfe Research assumed coverage on shares of First Tracks Biotherapeutics in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $83.00 price target on the stock. Wall Street Zen upgraded shares of First Tracks Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 17th. UBS Group began coverage on shares of First Tracks Biotherapeutics in a research report on Wednesday, September 16th. They set a “buy” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $57.00 price objective on shares of First Tracks Biotherapeutics in a research report on Thursday, September 3rd. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

Insiders Place Their Bets

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 sale, the director directly owned 15,660 shares in the company, valued at $701,254.80. This trade represents a 71.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.