First Tracks Biotherapeutics (NASDAQ:TRAX) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of First Tracks Biotherapeutics (NASDAQ:TRAX) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of First Tracks Biotherapeutics from $30.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Weiss Ratings assumed coverage on shares of First Tracks Biotherapeutics in a research note on Thursday, August 13th. They set a “sell (d)” rating on the stock. Barclays raised their target price on shares of First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. UBS Group lifted their target price on shares of First Tracks Biotherapeutics from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $57.00 price target on shares of First Tracks Biotherapeutics in a report on Thursday, September 3rd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

First Tracks Biotherapeutics Stock Performance

First Tracks Biotherapeutics stock opened at $40.46 on Friday. The stock has a market cap of $1.45 billion and a PE ratio of -21.99. The stock’s 50-day moving average is $38.71. 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 announced its earnings results on Wednesday, August 12th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.21). Equities research analysts predict that First Tracks Biotherapeutics will post -4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Tracks Biotherapeutics news, Director J. Anthony Ware sold 39,265 shares of the stock in a transaction that occurred on 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 transaction, the director owned 15,660 shares of the company’s stock, valued at $701,254.80. This trade represents 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 hyperlink.

Institutional Trading of First Tracks Biotherapeutics

Several institutional investors have recently made changes to their positions in TRAX. 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 purchased a new stake in First Tracks Biotherapeutics during the second quarter valued at about $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.

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.