First Tracks Biotherapeutics (NASDAQ:TRAX) Upgraded to “Hold” at Wall Street Zen

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

Several other analysts also recently commented on the company. UBS Group assumed coverage on First Tracks Biotherapeutics in a research note on Wednesday, September 16th. They set a “buy” rating on the stock. Wolfe Research started coverage on First Tracks Biotherapeutics in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $83.00 target price for the company. Barclays increased their price target on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price target on First Tracks Biotherapeutics from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Finally, Wedbush raised their price target on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.33.

First Tracks Biotherapeutics Trading Down 4.4%

TRAX opened at $34.46 on Friday. The stock has a fifty day moving average price of $39.16. The firm has a market capitalization of $1.23 billion and a price-to-earnings ratio of -18.73. First Tracks Biotherapeutics has a twelve month low of $14.72 and a twelve month high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX) last announced its quarterly earnings results 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). Research analysts forecast that First Tracks Biotherapeutics will post -4.31 earnings per share for the current fiscal year.

Insider Buying and Selling at First Tracks Biotherapeutics

In other news, Director J. Ware sold 39,265 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $701,254.80. This represents a 71.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On First Tracks Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp bought a new stake in First Tracks Biotherapeutics in the 2nd quarter valued at $30,439,000. Opaleye Management Inc. acquired a new stake in shares of First Tracks Biotherapeutics in the 2nd quarter valued at about $1,308,000. Tidal Investments LLC bought a new stake in shares of First Tracks Biotherapeutics in the second quarter valued at about $622,000. Corient Private Wealth LP bought a new stake in shares of First Tracks Biotherapeutics in the second quarter valued at about $610,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of First Tracks Biotherapeutics during the second quarter worth about $232,000.

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.