First Tracks Biotherapeutics, Inc. Stock 12‑Month Price Target Raised to $72.08, Implies 126% Upside

First Tracks Biotherapeutics (TRAX) agreed to sell 6.1 million shares at $32.75 each to investors, raising $200 million. The deal, set to close Oct. 19, 2026, includes a registration rights agreement. Proceeds will support development and corporate needs, according to the company.

First Tracks Biotherapeutics (TRAX) announced a $200M private placement, selling 6.11M shares at $32.75 each to institutional investors.

First Tracks Biotherapeutics reported positive Phase 1b results for ANB033, showing significant protection against gluten-induced intestinal damage in celiac disease patients. The treatment reduced IEL density, improved histology, and lowered symptom scores. No severe adverse events were reported. The company plans to advance ANB033 to late-stage development in 2027, with Cohort 2 data expected in Q1 2027.

Canaccord raised its price target for First Tracks Biotherapeutics (TRAX) to $60 from $50, maintaining a Buy rating. The move follows positive Phase Ib trial data for ANB033 in celiac disease, showing statistically significant improvements in histological measures and patient-reported symptoms. The stock is currently at $34.05, up 79% year-to-date. Multiple analysts have recently initiated or raised price targets for TRAX, reflecting optimism about its pipeline.

First Tracks Biotherapeutics (TRAX) reported positive Phase 1b Cohort 1 results for its ANB033 trial in celiac disease, showing statistically significant protection against gluten-induced intestinal damage and symptom relief. The company highlighted a favorable safety profile. TRAX has a market cap of about $1.2 billion and focuses on immunology drugs. The next key data readout is expected in Q1 2027.

First Tracks Biotherapeutics (TRAX) shares rose 9% after positive Phase 1b trial results for ANB033 in celiac disease treatment. The stock is up $2.92 to $34.77 on Nasdaq.