Tidal Investments LLC Makes New Investment in First Tracks Biotherapeutics $TRAX

Key Points

• Tidal Investments acquired 30,907 shares of First Tracks Biotherapeutics, valued at approximately $622,000, while several other institutional investors also initiated positions during the second quarter.
• Analyst sentiment is largely positive: 11 analysts rate TRAX a Buy, one rates it Hold and one Sell, resulting in a consensus “Moderate Buy” rating and a $66.55 target price.
• TRAX opened at $38.99 and recently reported a quarterly loss of $0.95 per share, below estimates of $0.74; meanwhile, director J. Anthony Ware sold 39,265 shares for roughly $1.76 million.

Tidal Investments LLC bought a new stake in shares of First Tracks Biotherapeutics (NASDAQ:TRAX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,907 shares of the company's stock, valued at approximately $622,000. Tidal Investments LLC owned 0.09% of First Tracks Biotherapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TRAX. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of First Tracks Biotherapeutics during the second quarter valued at approximately $232,000. Corient Private Wealth LP purchased a new stake in First Tracks Biotherapeutics during the second quarter worth $610,000. Finally, Wellington Management Group LLP bought a new stake in First Tracks Biotherapeutics during the 2nd quarter valued at $1,156,000.

Analyst Ratings Changes

TRAX has been the topic of a number of analyst reports. Guggenheim began coverage on First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a "buy" rating and a $100.00 price target on the stock. Wolfe Research began coverage on First Tracks Biotherapeutics in a research note on Tuesday, August 18th. They set an "outperform" rating and a $83.00 price objective for the company. Weiss Ratings began coverage on First Tracks Biotherapeutics in a research note on Thursday, August 13th. They issued a "sell (d)" rating on the stock. UBS Group started coverage on shares of First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company increased their price target on shares of First Tracks Biotherapeutics from $30.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Eleven equities 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.55.

First Tracks Biotherapeutics Stock Performance

NASDAQ TRAX opened at $38.99 on Tuesday. The firm has a market cap of $1.39 billion and a P/E ratio of -21.19. The firm has a fifty day moving average price of $41.63. First Tracks Biotherapeutics has a 1 year low of $14.72 and a 1 year high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.21). As a group, sell-side analysts predict that First Tracks Biotherapeutics will post -4.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director J. Ware sold 39,265 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $44.78, for a total value of $1,758,286.70. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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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