First Tracks Biotherapeutics (NASDAQ:TRAX) Director J. Anthony Ware Sells 39,265 Shares of Stock

First Tracks Biotherapeutics (NASDAQ:TRAX) Director J. Anthony Ware sold 39,265 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $44.78, for a total transaction of $1,758,286.70. Following 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 SEC, which is accessible through this link.

First Tracks Biotherapeutics Stock Down 4.8%

Shares of First Tracks Biotherapeutics stock opened at $40.46 on Friday. First Tracks Biotherapeutics has a 52-week low of $14.72 and a 52-week high of $49.91. The business has a 50 day moving average price of $38.24. The stock has a market capitalization of $1.45 billion and a P/E ratio of -21.99.

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

Institutional Trading of First Tracks Biotherapeutics

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wedbush raised their price target on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Wall Street Zen downgraded First Tracks Biotherapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company raised their target price on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Weiss Ratings initiated coverage on First Tracks Biotherapeutics in a research note on Thursday, August 13th. They set a “sell (d)” rating for the company. Finally, Barclays upped their price target on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Nine equities research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.