30,339 Shares in First Tracks Biotherapeutics $TRAX Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP initiated a position in First Tracks Biotherapeutics, purchasing 30,339 shares valued at approximately $610,000. Wellington Management also acquired a new stake worth about $1.16 million.
• Analyst sentiment is broadly positive: 11 analysts rate the stock Buy, with an average “Moderate Buy” rating and a consensus price target of $66.55. Recent targets range from $65 to $95, though Weiss Ratings issued a sell rating.
• TRAX shares opened at $35.98 after declining 1.8%, while the company reported a quarterly EPS loss of $0.95, missing the $0.74 consensus estimate. Separately, director J. Ware sold 39,265 shares for approximately $1.76 million.

Corient Private Wealth LP bought a new position in First Tracks Biotherapeutics (NASDAQ:TRAX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 30,339 shares of the company's stock, valued at approximately $610,000. Corient Private Wealth LP owned approximately 0.08% of First Tracks Biotherapeutics as of its most recent filing with the SEC.

Separately, Wellington Management Group LLP purchased a new stake in First Tracks Biotherapeutics in the second quarter worth about $1,156,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TRAX shares. Evercore began coverage on shares of First Tracks Biotherapeutics in a report on Friday, September 18th. They set an "outperform" rating and a $65.00 target price for the company. Piper Sandler upped their price target on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Barclays raised their price objective on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Weiss Ratings started coverage on First Tracks Biotherapeutics in a report on Thursday, August 13th. They issued a "sell (d)" rating on the stock. Finally, Wolfe Research began coverage on First Tracks Biotherapeutics in a report on Tuesday, August 18th. They issued an "outperform" rating and a $83.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating, one has issued 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 an average price target of $66.55.

First Tracks Biotherapeutics Trading Down 1.8%

First Tracks Biotherapeutics stock opened at $35.98 on Wednesday. The company has a market cap of $1.29 billion and a price-to-earnings ratio of -19.55. The business has a fifty day simple moving average of $41.69. First Tracks Biotherapeutics has a 12 month low of $14.72 and a 12 month high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.21). On average, research analysts expect that First Tracks Biotherapeutics will post -4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Tracks Biotherapeutics news, Director J. Ware sold 39,265 shares of the business's stock in a transaction 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 completion of the sale, the director directly owned 15,660 shares in the company, valued at approximately $701,254.80. The trade was a 71.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Tracks Biotherapeutics Company Profile

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.

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