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

First Tracks Biotherapeutics (NASDAQ:TRAX) issued its quarterly earnings data on Tuesday. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04, Zacks reports.

First Tracks Biotherapeutics Stock Performance

TRAX stock traded up $1.29 during midday trading on Tuesday, hitting $46.34. The company’s stock had a trading volume of 410,048 shares, compared to its average volume of 721,587. The stock has a market capitalization of $1.95 billion and a P/E ratio of -25.18. First Tracks Biotherapeutics has a 12 month low of $14.72 and a 12 month high of $49.91. The business has a 50-day simple moving average of $38.96.

Insider Activity at First Tracks Biotherapeutics

In other First Tracks Biotherapeutics news, Director J. Ware sold 39,265 shares of the company’s 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 transaction, the director owned 15,660 shares in the company, valued at approximately $701,254.80. This represents a 71.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRAX shares. Wolfe Research began coverage on First Tracks Biotherapeutics in a report on Tuesday, August 18th. They set an “outperform” rating and a $83.00 target price on the stock. Leerink Partners lifted their price target on First Tracks Biotherapeutics from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 16th. Piper Sandler increased their price objective on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. HC Wainwright reissued a “buy” rating and set a $57.00 price objective on shares of First Tracks Biotherapeutics in a research report on Thursday, September 3rd. Finally, Barclays boosted 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. Twelve 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.33.

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.