First Tracks Biotherapeutics (NASDAQ:TRAX) Director Sells $1,758,286.70 in Stock

Key Points

• Director J. Anthony Ware sold 39,265 TRAX shares at an average price of $44.78, generating $1.76 million and reducing his ownership by 71.49% to 15,660 shares.
• First Tracks Biotherapeutics shares fell 4.8% to $40.46, while the company reported a quarterly loss of $0.95 per share—$0.21 worse than analyst expectations.
• Analysts remain broadly positive, with nine Buy ratings and a consensus “Moderate Buy” rating; the average price target is $63, despite the stock’s recent decline.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) Director J. Anthony Ware sold 39,265 shares of the business's stock in a transaction dated 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 owned 15,660 shares in the company, valued at approximately $701,254.80. This trade represents a 71.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Tracks Biotherapeutics Trading Down 4.8%

NASDAQ TRAX traded down $2.05 during trading hours on Friday, hitting $40.46. 456,216 shares of the stock were exchanged, compared to its average volume of 635,468. The company has a market cap of $1.45 billion and a P/E ratio of -21.99. First Tracks Biotherapeutics has a 12-month low of $14.72 and a 12-month high of $49.91. The stock has a 50-day moving average of $37.75.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last announced its quarterly earnings data 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). On average, analysts expect that First Tracks Biotherapeutics will post -4.31 earnings per share for the current year.

Hedge Funds Weigh In On First Tracks Biotherapeutics

Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new stake in shares of First Tracks Biotherapeutics in the second quarter valued at approximately $10,643,000. Wellington Management Group LLP acquired a new stake in First Tracks Biotherapeutics during the 2nd quarter valued at $1,156,000. Corient Private Wealth LP purchased a new position in First Tracks Biotherapeutics during the second quarter worth $610,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in First Tracks Biotherapeutics during the second quarter worth $232,000.

Analyst Upgrades and Downgrades

TRAX has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Wedbush boosted their price objective on shares of First Tracks Biotherapeutics from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, August 13th. Barclays increased their target price on shares of First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. UBS Group boosted their price target on First Tracks Biotherapeutics from $45.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company raised their price objective on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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