From the archive. This pick came before our first emailed issue. We wrote it on Nov 3, 2026 from sources published around that day, with the same checks as every issue. It isn't part of the track record.
The pick
First Tracks Biotherapeutics (TRAX) had the biggest jump in trading volume compared with its usual level on October 12. Volume was 9.8x its 30-day average, and the stock rose 6.91%.
What happened
On October 12, First Tracks announced positive top-line results from a gluten-challenge study of ANB033 in celiac disease. ANB033 is an investigational CD122 antagonist. The company said it had a statistically significant and clinically meaningful protective effect on both gluten-induced intestinal damage and symptoms.
The company reported two measures of intestinal damage. The mean change from baseline in the Vh:Cd ratio was -0.17 on ANB033 versus -0.66 on placebo, a +0.49 placebo-adjusted difference (p=0.009). The mean change in IEL density was -1.20 on ANB033 versus +18.83 on placebo, a -20.03 placebo-adjusted difference (p<0.001).
The company also said ANB033 prevented an increase in symptoms throughout the entire gluten challenge.
First Tracks filed an 8-K on October 13 that included a press release as an exhibit.
Sources: [press release] [press release 2]
The numbers
- Previous close: $31.85
- Close: $34.05
- Change: +6.91%
- Volume: 7,311,821
- 30-day average volume: 744,211
- Volume multiple: 9.8x
- Behind the move: a company press release
More coverage
What happened next
Measured from this day's close. Shown for every pick, good or bad. See the full track record.