First Tracks Biotherapeutics (NASDAQ:TRAX) Shares Down 5.7% Following Weak Earnings

First Tracks Biotherapeutics (NASDAQ:TRAX)’s share price was down 5.7% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $44.00 and last traded at $43.4850. 227,033 shares traded hands during trading, a decline of 64% from the average session volume of 633,791 shares. The stock had previously closed at $46.13.

The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.21).

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRAX. JPMorgan Chase & Co. started coverage on shares of First Tracks Biotherapeutics in a research note on Thursday, April 23rd. They set an “overweight” rating and a $31.00 price objective for the company. Barclays boosted their target price on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler increased their price target on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday. Zacks Research upgraded First Tracks Biotherapeutics to a “hold” rating in a research report on Monday, April 27th. Finally, Leerink Partners assumed coverage on First Tracks Biotherapeutics in a report on Friday, April 24th. They issued an “outperform” rating and a $46.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

First Tracks Biotherapeutics Price Performance

The company’s 50 day moving average is $29.33. The company has a market capitalization of $1.53 billion and a price-to-earnings ratio of -23.64.

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.