First Tracks Biotherapeutics (NASDAQ:TRAX) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of First Tracks Biotherapeutics (NASDAQ:TRAX) in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $83.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the company. Wall Street Zen upgraded First Tracks Biotherapeutics to a “hold” rating in a research note on Saturday, May 2nd. Leerink Partners assumed coverage on First Tracks Biotherapeutics in a research note on Friday, April 24th. They issued an “outperform” rating and a $46.00 price target on the stock. HC Wainwright boosted their price target on First Tracks Biotherapeutics from $44.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Piper Sandler boosted their price target on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, UBS Group upped their price objective on First Tracks Biotherapeutics from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

First Tracks Biotherapeutics Stock Down 7.9%

Shares of NASDAQ:TRAX opened at $41.90 on Tuesday. The firm has a 50 day moving average price of $32.59. First Tracks Biotherapeutics has a 12 month low of $14.72 and a 12 month high of $49.91. The firm has a market cap of $1.50 billion and a PE ratio of -22.77.

First Tracks Biotherapeutics (NASDAQ:TRAX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.21). On average, sell-side analysts forecast that First Tracks Biotherapeutics will post -4.02 EPS for the current fiscal year.

Hedge Funds Weigh In On First Tracks Biotherapeutics

A hedge fund recently bought a new position in First Tracks Biotherapeutics stock. Wellington Management Group LLP bought a new stake in First Tracks Biotherapeutics (NASDAQ:TRAX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 57,476 shares of the company’s stock, valued at approximately $1,156,000. Wellington Management Group LLP owned approximately 0.16% of First Tracks Biotherapeutics at the end of the most recent reporting period.

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.