First Tracks Biotherapeutics (NASDAQ:TRAX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Tracks Biotherapeutics (NASDAQ:TRAX) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Several other analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of First Tracks Biotherapeutics in a report on Thursday, September 3rd. Barclays upped their price objective on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Wolfe Research began coverage on First Tracks Biotherapeutics in a report on Tuesday, August 18th. They set an “outperform” rating and a $83.00 target price on the stock. Canaccord Genuity Group increased their target price on First Tracks Biotherapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Finally, Wedbush lifted their target price on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.33.

First Tracks Biotherapeutics Stock Up 5.3%

TRAX opened at $36.28 on Friday. The business has a 50-day moving average of $38.92. First Tracks Biotherapeutics has a 1-year low of $14.72 and a 1-year high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX) last issued 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). On average, equities analysts expect that First Tracks Biotherapeutics will post -4.31 EPS for the current 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 on Wednesday, September 2nd. The shares were 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 in the company, valued at $701,254.80. The trade was a 71.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. State Street Corp acquired a new position in shares of First Tracks Biotherapeutics in the 2nd quarter valued at about $30,439,000. Opaleye Management Inc. bought a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter valued at about $1,308,000. Tidal Investments LLC acquired a new stake in First Tracks Biotherapeutics during the second quarter worth about $622,000. Corient Private Wealth LP acquired a new stake in First Tracks Biotherapeutics during the second quarter worth about $610,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in First Tracks Biotherapeutics during the second quarter worth about $232,000.

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.