Frequency Therapeutics (NASDAQ:FREQ) Stock Price Down 9.4%

Frequency Therapeutics, Inc. (NASDAQ:FREQ)’s stock price fell 9.4% during mid-day trading on Monday . The stock traded as low as $0.37 and last traded at $0.38. 140,223 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 953,900 shares. The stock had previously closed at $0.42.

Frequency Therapeutics Stock Down 9.4 %

The firm’s 50-day moving average is $0.54 and its 200-day moving average is $0.46. The company has a market capitalization of $14.02 million, a PE ratio of -0.20 and a beta of 0.70.

Frequency Therapeutics (NASDAQ:FREQ) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. As a group, equities research analysts predict that Frequency Therapeutics, Inc. will post -1.7 EPS for the current year.

Institutional Trading of Frequency Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of Frequency Therapeutics by 10.8% during the first quarter. Renaissance Technologies LLC now owns 386,500 shares of the company’s stock valued at $194,000 after acquiring an additional 37,530 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Frequency Therapeutics by 245.0% during the second quarter. AQR Capital Management LLC now owns 100,820 shares of the company’s stock valued at $151,000 after acquiring an additional 71,596 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Frequency Therapeutics by 115.9% during the fourth quarter. Bank of America Corp DE now owns 32,617 shares of the company’s stock valued at $126,000 after acquiring an additional 17,512 shares during the last quarter. GTS Securities LLC bought a new position in shares of Frequency Therapeutics during the second quarter valued at about $77,000. Finally, Acadian Asset Management LLC bought a new position in shares of Frequency Therapeutics during the first quarter valued at about $70,000. 13.18% of the stock is currently owned by hedge funds and other institutional investors.

About Frequency Therapeutics

Frequency Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing therapeutics to activate a person's innate regenerative potential to restore function. Its Progenitor Cell Activation approach uses small molecules to activate progenitor cells within the body to create functional tissue.