First Tracks Biotherapeutics (NASDAQ:TRAX) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

First Tracks Biotherapeutics (NASDAQ:TRAX) announced its earnings results on Tuesday. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04, Zacks reports.

First Tracks Biotherapeutics Trading Up 2.9%

TRAX stock opened at $46.34 on Wednesday. First Tracks Biotherapeutics has a 52-week low of $14.72 and a 52-week high of $49.91. The company’s 50 day moving average price is $39.02.

Insiders Place Their Bets

In other First Tracks Biotherapeutics news, Director J. Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction that occurred on 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 transaction, the director directly owned 15,660 shares in the company, valued at approximately $701,254.80. The trade was a 71.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

TRAX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of First Tracks Biotherapeutics from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Wall Street Zen raised shares of First Tracks Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 17th. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of First Tracks Biotherapeutics in a report on Thursday, September 3rd. Piper Sandler increased their target price on shares of First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Finally, Guggenheim reissued a “buy” rating and set a $110.00 target price on shares of First Tracks Biotherapeutics in a research note on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.17.

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.