Wellington Management Group LLP Makes New $1.16 Million Investment in First Tracks Biotherapeutics $TRAX

Key Points

• Wellington Management acquired 57,476 shares of First Tracks Biotherapeutics in the second quarter, worth approximately $1.16 million and representing a 0.16% stake.
• Director J. Ware sold 39,265 shares for roughly $1.76 million, reducing their direct holdings by 71.49%.
• TRAX recently missed quarterly earnings expectations, reporting a loss of $0.95 per share versus the $0.74 consensus estimate. Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $63, despite ratings ranging from sell to outperform.

Wellington Management Group LLP bought a new position in shares of First Tracks Biotherapeutics (NASDAQ:TRAX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 57,476 shares of the company's stock, valued at approximately $1,156,000. Wellington Management Group LLP owned 0.16% of First Tracks Biotherapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Insider Transactions at First Tracks Biotherapeutics

In other news, Director J. Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction 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 transaction, the director directly owned 15,660 shares in the company, valued at approximately $701,254.80. This trade represents a 71.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

First Tracks Biotherapeutics Price Performance

Shares of TRAX opened at $36.44 on Friday. The stock has a 50 day simple moving average of $40.28. First Tracks Biotherapeutics has a fifty-two week low of $14.72 and a fifty-two week high of $49.91. The stock has a market cap of $1.30 billion and a PE ratio of -19.80.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on TRAX. Wall Street Zen cut First Tracks Biotherapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Barclays lifted their target price 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. UBS Group upped their target price on First Tracks Biotherapeutics from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Weiss Ratings initiated coverage on First Tracks Biotherapeutics in a research report on Thursday, August 13th. They set a "sell (d)" rating on the stock. Finally, Wedbush raised their price target on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, First Tracks Biotherapeutics has an average rating of "Moderate Buy" and an average target price of $63.00.

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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