First Tracks Biotherapeutics (NASDAQ:TRAX) Stock Price Down 5.7% Following Weak Earnings

First Tracks Biotherapeutics (NASDAQ:TRAX) shares traded down 5.7% on Thursday following a dissappointing earnings announcement. The stock traded as low as $44.00 and last traded at $43.4850. Approximately 227,033 shares were traded during trading, a decline of 64% from the average daily volume of 633,791 shares. The stock had previously closed at $46.13.

The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.21).

Analyst Upgrades and Downgrades

TRAX has been the topic of several recent analyst reports. Wedbush increased their price target on shares of First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler upped their target price on shares of First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group increased their target price on shares of First Tracks Biotherapeutics from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. HC Wainwright lifted their price target on shares of First Tracks Biotherapeutics from $44.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. started coverage on shares of First Tracks Biotherapeutics in a research report on Thursday, April 23rd. They issued an “overweight” rating and a $31.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

First Tracks Biotherapeutics Stock Down 5.2%

The firm has a 50-day moving average of $29.33. The firm has a market cap of $1.53 billion and a price-to-earnings ratio of -23.64.

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.