First Tracks Biotherapeutics (NASDAQ:TRAX) Receives Consensus Rating of “Moderate Buy” from Brokerages

First Tracks Biotherapeutics (NASDAQ:TRAX) has received a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $65.17.

A number of analysts recently issued reports on the company. Piper Sandler lifted their target price on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Weiss Ratings initiated coverage on shares of First Tracks Biotherapeutics in a report on Thursday, August 13th. They set a “sell (d)” rating on the stock. Wells Fargo & Company lifted their price objective on shares of First Tracks Biotherapeutics from $30.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. HC Wainwright reiterated a “buy” rating and set a $57.00 price target on shares of First Tracks Biotherapeutics in a report on Thursday, September 3rd. Finally, Wolfe Research started coverage on First Tracks Biotherapeutics in a report on Tuesday, August 18th. They set an “outperform” rating and a $83.00 price target for the company.

First Tracks Biotherapeutics Stock Performance

NASDAQ TRAX opened at $33.92 on Friday. First Tracks Biotherapeutics has a one year low of $14.72 and a one year high of $49.91. The firm has a market capitalization of $1.21 billion and a price-to-earnings ratio of -18.43. The stock’s 50-day simple moving average is $41.56.

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

Insiders Place Their Bets

In other First Tracks Biotherapeutics news, Director J. Ware sold 39,265 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were 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 owned 15,660 shares of the company’s stock, valued at $701,254.80. The trade was a 71.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Trading of First Tracks Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp bought a new position in shares of First Tracks Biotherapeutics in the second quarter worth about $30,439,000. Opaleye Management Inc. bought a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter valued at approximately $1,308,000. Wellington Management Group LLP bought a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter valued at approximately $1,156,000. Tidal Investments LLC acquired a new position in First Tracks Biotherapeutics during the 2nd quarter worth approximately $622,000. Finally, Corient Private Wealth LP acquired a new position in First Tracks Biotherapeutics during the 2nd quarter worth approximately $610,000.

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.