First Tracks Biotherapeutics (NASDAQ:TRAX) Announces Earnings Results, Beats Expectations By $0.04 EPS

First Tracks Biotherapeutics (NASDAQ:TRAX) posted its quarterly earnings results on Tuesday. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04, Zacks reports.

First Tracks Biotherapeutics Stock Up 2.9%

Shares of TRAX stock traded up $1.29 on Tuesday, hitting $46.34. 410,050 shares of the stock traded hands, compared to its average volume of 721,589. The company has a market cap of $1.95 billion and a P/E ratio of -25.18. First Tracks Biotherapeutics has a 1-year low of $14.72 and a 1-year high of $49.91. The stock’s fifty day moving average is $38.96.

Analysts Set New Price Targets

Several research firms have issued reports on TRAX. HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of First Tracks Biotherapeutics in a research note on Thursday, September 3rd. Wedbush raised their target price on shares of First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Leerink Partners raised their target price on shares of First Tracks Biotherapeutics from $70.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 16th. UBS Group initiated coverage on shares of First Tracks Biotherapeutics in a report on Wednesday, September 16th. They set a “buy” rating on the stock. Finally, Wall Street Zen raised shares of First Tracks Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. Twelve 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Insider Buying and Selling

In other First Tracks Biotherapeutics news, Director J. Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $44.78, for a total value of $1,758,286.70. Following the completion of the transaction, the director owned 15,660 shares of the company’s stock, 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 available through this link.

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.