Perceptive Advisors LLC purchased a new stake in Frequency Therapeutics (NASDAQ:FREQ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,034,296 shares of the company’s stock, valued at approximately $49,812,000. Frequency Therapeutics accounts for approximately 1.0% of Perceptive Advisors LLC’s portfolio, making the stock its 23rd biggest position. Perceptive Advisors LLC owned approximately 9.86% of Frequency Therapeutics at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of Frequency Therapeutics during the 4th quarter worth approximately $8,289,000. Matthews International Capital Management LLC purchased a new stake in shares of Frequency Therapeutics during the 4th quarter worth about $7,662,000. Laurion Capital Management LP purchased a new stake in shares of Frequency Therapeutics during the 4th quarter worth about $4,383,000. FMR LLC purchased a new stake in shares of Frequency Therapeutics during the 4th quarter worth about $1,547,000. Finally, State Street Corp acquired a new stake in shares of Frequency Therapeutics during the 4th quarter valued at about $784,000. 40.30% of the stock is owned by institutional investors.
FREQ stock traded up $2.33 during trading on Thursday, hitting $21.93. The stock had a trading volume of 179,741 shares, compared to its average volume of 123,723. Frequency Therapeutics has a twelve month low of $11.17 and a twelve month high of $28.78. The business’s 50-day moving average price is $21.77.
Separately, Zacks Investment Research lowered Frequency Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.33.
Frequency Therapeutics 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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