Frequency Therapeutics, Inc. (NASDAQ:FREQ) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 6,080,000 shares, a decrease of 23.6% from the March 31st total of 7,960,000 shares. Based on an average daily volume of 0 shares, the short-interest ratio is presently ∞ days.
Shares of FREQ traded down $0.52 during mid-day trading on Tuesday, hitting $10.59. The company had a trading volume of 632,037 shares, compared to its average volume of 1,172,648. Frequency Therapeutics has a 1-year low of $7.34 and a 1-year high of $58.37. The business’s 50-day simple moving average is $14.83 and its 200-day simple moving average is $29.94. The stock has a market cap of $362.38 million, a PE ratio of -15.13 and a beta of 0.69.
Frequency Therapeutics (NASDAQ:FREQ) last announced its quarterly earnings results on Sunday, March 28th. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.05). Frequency Therapeutics had a negative net margin of 68.59% and a negative return on equity of 12.56%. Research analysts forecast that Frequency Therapeutics will post -0.79 earnings per share for the current year.
In other Frequency Therapeutics news, CEO David L. Lucchino sold 9,416 shares of the company’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $50.43, for a total value of $474,848.88. Following the sale, the chief executive officer now owns 317,502 shares of the company’s stock, valued at $16,011,625.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David L. Lucchino sold 16,554 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $55.00, for a total transaction of $910,470.00. Following the completion of the sale, the chief executive officer now directly owns 324,640 shares in the company, valued at approximately $17,855,200. The disclosure for this sale can be found here. Insiders sold 35,970 shares of company stock worth $1,839,919 in the last three months. 15.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new position in shares of Frequency Therapeutics in the 4th quarter valued at about $25,000. Penserra Capital Management LLC acquired a new stake in shares of Frequency Therapeutics in the fourth quarter worth $27,000. Meeder Asset Management Inc. purchased a new position in shares of Frequency Therapeutics in the 1st quarter valued at $27,000. Benjamin F. Edwards & Company Inc. purchased a new position in Frequency Therapeutics in the fourth quarter valued at about $31,000. Finally, Cubic Asset Management LLC purchased a new stake in shares of Frequency Therapeutics during the 1st quarter valued at about $105,000. Institutional investors own 57.48% of the company’s stock.
A number of analysts recently commented on the company. Zacks Investment Research lowered Frequency Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, March 26th. Oppenheimer decreased their price target on shares of Frequency Therapeutics from $68.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 30th. JPMorgan Chase & Co. raised shares of Frequency Therapeutics from a “neutral” rating to an “overweight” rating and set a $56.00 price objective on the stock in a research note on Wednesday, January 27th. TheStreet lowered shares of Frequency Therapeutics from a “c-” rating to a “d” rating in a research report on Monday, April 5th. Finally, B. Riley cut their price target on Frequency Therapeutics from $79.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 24th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.25.
Frequency Therapeutics Company Profile
Frequency Therapeutics, Inc, a clinical-stage biotechnology company, focuses on harnessing the body's innate biology to repair or reverse damage caused by a broad range of degenerative diseases. Its Progenitor Cell Activation approach, uses combinations of small molecules to activate progenitor cells within the body to create functional tissue.
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