First Tracks Biotherapeutics (NASDAQ:TRAX) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of First Tracks Biotherapeutics (NASDAQ:TRAX) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently issued reports on TRAX. Wolfe Research began coverage on shares of First Tracks Biotherapeutics in a research report on Tuesday, August 18th. They set an “outperform” rating and a $83.00 price objective on the stock. Wells Fargo & Company upped their price target on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. 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. Wedbush increased their price target on First Tracks Biotherapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Finally, 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 note on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, First Tracks Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

First Tracks Biotherapeutics Stock Down 4.8%

First Tracks Biotherapeutics stock opened at $40.46 on Friday. The firm 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 company’s fifty day moving average is $38.24.

First Tracks Biotherapeutics (NASDAQ:TRAX) last posted 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). On average, analysts anticipate that First Tracks Biotherapeutics will post -4.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director J. Anthony Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction dated 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 transaction, the director directly owned 15,660 shares in the company, valued at $701,254.80. This trade 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 through this hyperlink.

Hedge Funds Weigh In On First Tracks Biotherapeutics

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

About First Tracks Biotherapeutics

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.