Key Points
- Director J. Anthony Ware sold 39,265 TRAX shares for approximately $1.76 million at an average price of $44.78, reducing his direct ownership by 71.49% to 15,660 shares.
- First Tracks Biotherapeutics shares opened at $40.46 after falling 4.8%; the company recently reported a quarterly loss of $0.95 per share, missing the analyst consensus estimate of a $0.74 loss.
- Analysts maintain a broadly positive outlook, with nine Buy ratings, one Hold, and one Sell; the stock has a consensus “Moderate Buy” rating and an average price target of $63.
First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) Director J. Anthony Ware sold 39,265 shares of the firm's stock in a transaction 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 transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
First Tracks Biotherapeutics Stock Down 4.8%
Shares of NASDAQ:TRAX opened at $40.46 on Friday. The company has a 50-day simple moving average of $38.24. First Tracks Biotherapeutics has a one year low of $14.72 and a one year high of $49.91. The stock has a market capitalization of $1.45 billion and a PE ratio of -21.99.
First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.21). On average, equities research analysts forecast that First Tracks Biotherapeutics will post -4.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On First Tracks Biotherapeutics
Large investors have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of First Tracks Biotherapeutics in the second quarter valued at approximately $232,000. Corient Private Wealth LP acquired a new position in First Tracks Biotherapeutics during the second quarter worth about $610,000. Wellington Management Group LLP purchased a new position in First Tracks Biotherapeutics in the second quarter valued at about $1,156,000. Finally, California State Teachers Retirement System purchased a new position in First Tracks Biotherapeutics in the second quarter valued at about $10,643,000.
Analyst Ratings Changes
TRAX has been the topic of a number of recent research reports. HC Wainwright reissued a "buy" rating and issued a $57.00 target price on shares of First Tracks Biotherapeutics in a report on Thursday. UBS Group increased their price target on First Tracks Biotherapeutics from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Piper Sandler lifted their price objective on shares of First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Barclays boosted their price objective on shares of First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Finally, Wedbush raised their target price on shares of First Tracks Biotherapeutics from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.00.
Check Out Our Latest Analysis on TRAX
First Tracks Biotherapeutics Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
