Biotherapeutics Inc. Begins Trading Today on NASDAQ Global Select Market Under the Ticker "TRAX"

Written by Emily J. Thompson, Senior Investment Analyst

Source: moomoo

Updated: Apr 20 2026

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TRAX-0.36%

Should l Buy TRAX?

Source: moomoo

Company Announcement: First Tracks Biotherapeutics is set to begin trading on the NASDAQ Global Select Market today.
Ticker Symbol: The company will operate under the ticker symbol "TRAX".

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Analyst Views on TRAX

Wall Street analysts forecast TRAX stock price to rise

0 Analyst Rating

0 Buy

0 Hold

0 Sell

Current: 19.540

Low

Averages

High

Current: 19.540

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Averages

High

Piper Sandler

Yasmeen Rahimi

initiated

$54

2026-05-04

Reason

Piper Sandler

Yasmeen Rahimi

Price Target

$54

AI Analysis

2026-05-04

initiated

Reason

Piper Sandler analyst Yasmeen Rahimi initiated coverage of First Tracks Biotherapeutics with an Overweight rating and $54 price target. The company has a "differentiated pipeline" across ANB033, rosnilimab, and ANB101, the analyst tells investors in a research note. The firm believes First Tracks' key value driver is ANB033. The Phase 1b celiac disease data Q4 and Phase 1b eosinophilic esophagitis data mid-2027 are "significant catalysts" and have the potential to validate ANB033 as a leader in the space, contends Piper.

H.C. Wainwright

Emily Bodnar

initiated

$30

2026-04-28

Reason

H.C. Wainwright

Emily Bodnar

Price Target

$30

2026-04-28

initiated

Reason

H.C. Wainwright analyst Emily Bodnar initiated coverage of First Tracks Biotherapeutics with a Buy rating and $30 price target. The company has a pipeline of clinical-stage immune cell modulating monoclonal antibodies targeting a \"plethora of autoimmune and inflammatory diseases,\" the analyst tells investors in a research note. The firm says First Tracks has a \"notable amount of news flow\" slated for the next 18 months with $180M in cash to fund operations for two years, \"allowing for significant upside potential.\"

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About TRAX

First Tracks Biotherapeutics, Inc. is a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics for autoimmune and inflammatory diseases. The Company's clinical-stage pipeline includes Rosnilimab, a selective pathogenic T cell depleter, for the treatment of moderate-to-severe rheumatoid arthritis (RA), ANB033, a CD122 antagonist, for celiac disease (CeD) and eosinophilic esophagitis (EoE), and ANB101, a blood dendritic cell antigen 2 (BDCA2) modulator. Rosnilimab is an IgG1 antibody that directly targets pathogenic T cells, such as activated Tph/Tfh and T effector cells, in the periphery or inflamed tissue. Rosnilimab is designed to selectively deplete pathogenic T cells while sparing non-pathogenic T cells, including naive T cells, to preserve overall immune function and restore immune homeostasis. Its molecules have applicability across a range of autoimmune and inflammatory diseases, including gastroenterology, rheumatology and other areas.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

AnaptysBio Completes Spin-Off, Focuses on Royalty Management

Apr 20 2026Globenewswire

Spin-Off Completion: AnaptysBio has successfully completed its spin-off of First Tracks Biotherapeutics, distributing one share of First Tracks stock for each share of Anaptys held, marking a strategic shift aimed at enhancing shareholder value.
Virtual Business Model: The new structure operates under a virtual business model with minimal operating expenses and limited full-time employees, projecting an EBIT margin exceeding 95%, which will enhance efficiency in managing royalties and improve profitability.
Focus on Royalty Management: AnaptysBio will concentrate on managing financial collaborations with GSK and Vanda, particularly for Jemperli and imsidolimab, with the goal of protecting and enhancing the value of these assets to boost shareholder returns.
Future Outlook: The company will continue trading on Nasdaq under the ticker ANAB, while First Tracks stock will also commence trading, indicating ongoing activity in the capital markets and suggesting future growth potential.

First Tracks Biotherapeutics Launches with $180 Million Cash on Nasdaq

Apr 20 2026Newsfilter

Company Launch and Funding: First Tracks Biotherapeutics officially launches today with $180 million in cash, ensuring a two-year operational runway aimed at advancing antibody therapeutics for autoimmune and inflammatory diseases.
Product Pipeline Overview: The company will initially focus on three development-stage assets, including the CD122 antagonist ANB033 for celiac disease and eosinophilic esophagitis, which is currently in a Phase 1b trial, indicating strong market potential.
Shareholder Distribution Details: The spin-off was completed by distributing one share of First Tracks Bio common stock for each share of AnaptysBio held as of April 6, 2026, enhancing shareholder investment value.
Market Outlook: CEO Daniel Faga emphasized the commitment to developing antibody therapies for autoimmune diseases, which are expected to deliver significant therapeutic benefits to patients and drive long-term value creation.