First Tracks Biotherapeutics’ (TRAX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of First Tracks Biotherapeutics (NASDAQ:TRAX) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $57.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Weiss Ratings assumed coverage on First Tracks Biotherapeutics in a research note on Thursday, August 13th. They set a “sell (d)” rating on the stock. Barclays raised their price objective on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Piper Sandler boosted their price objective on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Wedbush boosted their price objective on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Finally, Wells Fargo & Company upped their target price on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.00.

First Tracks Biotherapeutics Stock Down 4.8%

NASDAQ TRAX opened at $40.46 on Thursday. The firm has a market cap of $1.45 billion and a price-to-earnings ratio of -21.99. The stock has a fifty day moving average of $38.24. 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 posted its quarterly earnings data 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). Sell-side analysts forecast that First Tracks Biotherapeutics will post -4.31 earnings per share for the current year.

Insider Activity

In related news, Director J. Anthony Ware sold 39,265 shares of First Tracks Biotherapeutics 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. This trade represents a 71.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Trading of First Tracks Biotherapeutics

Several hedge funds have recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of First Tracks Biotherapeutics in the 2nd quarter worth approximately $232,000. Corient Private Wealth LP bought a new stake in First Tracks Biotherapeutics during the 2nd quarter worth approximately $610,000. Wellington Management Group LLP acquired a new stake in First Tracks Biotherapeutics during the 2nd quarter valued at $1,156,000. Finally, California State Teachers Retirement System acquired a new stake in First Tracks Biotherapeutics during the 2nd quarter valued at $10,643,000.

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.