First Tracks Biotherapeutics (NASDAQ:TRAX) Raised to “Hold” at Wall Street Zen

First Tracks Biotherapeutics (NASDAQ:TRAX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

TRAX has been the subject of several other reports. Guggenheim started coverage on First Tracks Biotherapeutics in a report on Wednesday, September 16th. They set a “buy” rating and a $100.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of First Tracks Biotherapeutics in a research note on Thursday, September 3rd. Wolfe Research began coverage on shares of First Tracks Biotherapeutics in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $83.00 target price on the stock. 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, Wedbush lifted their price target on shares of 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

First Tracks Biotherapeutics Price Performance

NASDAQ TRAX opened at $34.46 on Friday. The company has a fifty day moving average price of $39.16. The firm has a market cap of $1.23 billion and a PE ratio of -18.73. First Tracks Biotherapeutics has a 52 week low of $14.72 and a 52 week high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX) last issued 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). As a group, equities research analysts forecast that First Tracks Biotherapeutics will post -4.31 earnings per share for the current year.

Insider Buying and Selling at First Tracks Biotherapeutics

In other 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 transaction, the director directly owned 15,660 shares in the company, valued at $701,254.80. This trade represents a 71.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On First Tracks Biotherapeutics

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

First Tracks Biotherapeutics Company Profile

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.