Insider Selling: First Tracks Biotherapeutics (NASDAQ:TRAX) Director Sells $1,758,286.70 in Stock

First Tracks Biotherapeutics (NASDAQ:TRAX) Director J. Anthony 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 transaction of $1,758,286.70. Following the completion of the transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

First Tracks Biotherapeutics Stock Down 4.8%

Shares of First Tracks Biotherapeutics stock traded down $2.05 during mid-day trading on Friday, hitting $40.46. 456,216 shares of the stock were exchanged, compared to its average volume of 635,468. First Tracks Biotherapeutics has a twelve month low of $14.72 and a twelve month high of $49.91. The company has a market cap of $1.45 billion and a PE ratio of -21.99. The stock has a 50-day moving average of $37.75.

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

Institutional Trading of First Tracks Biotherapeutics

Several institutional investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of First Tracks Biotherapeutics during the 2nd quarter worth $232,000. Corient Private Wealth LP acquired a new position in First Tracks Biotherapeutics in the second quarter valued at $610,000. Wellington Management Group LLP acquired a new position in First Tracks Biotherapeutics in the second quarter valued at $1,156,000. Finally, California State Teachers Retirement System purchased a new stake in First Tracks Biotherapeutics during the second quarter valued at about $10,643,000.

Wall Street Analysts Forecast Growth

TRAX has been the topic of a number of recent analyst reports. Weiss Ratings initiated coverage on First Tracks Biotherapeutics in a research note on Thursday, August 13th. They set a “sell (d)” rating on the stock. UBS Group upped their target price on First Tracks Biotherapeutics from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Piper Sandler increased their target price on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Wells Fargo & Company lifted their price target on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, Barclays upped their price objective on shares of First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Nine 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

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.