Frequency Therapeutics (NASDAQ:FREQ) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $31.00.
Several equities research analysts recently issued reports on FREQ shares. JPMorgan Chase & Co. cut shares of Frequency Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $27.00 in a research report on Monday, May 18th. Oppenheimer started coverage on shares of Frequency Therapeutics in a research report on Monday, July 13th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, Zacks Investment Research cut shares of Frequency Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 21st.
In related news, insider Christopher R. Loose sold 4,500 shares of Frequency Therapeutics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $19.96, for a total value of $89,820.00. Following the completion of the sale, the insider now owns 175,282 shares in the company, valued at $3,498,628.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joel S. Marcus purchased 55,555 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was bought at an average price of $18.00 per share, with a total value of $999,990.00. Following the purchase, the director now owns 319,700 shares of the company’s stock, valued at approximately $5,754,600. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 58,428 shares of company stock worth $1,281,138. 15.40% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in Frequency Therapeutics during the second quarter valued at $51,000. Ameritas Investment Partners Inc. increased its stake in Frequency Therapeutics by 403.8% during the second quarter. Ameritas Investment Partners Inc. now owns 2,489 shares of the company’s stock valued at $58,000 after purchasing an additional 1,995 shares during the last quarter. Bank of America Corp DE bought a new stake in Frequency Therapeutics during the fourth quarter valued at $71,000. Bainco International Investors bought a new stake in Frequency Therapeutics during the first quarter valued at $71,000. Finally, Wells Fargo & Company MN increased its stake in Frequency Therapeutics by 506.1% during the first quarter. Wells Fargo & Company MN now owns 4,964 shares of the company’s stock valued at $88,000 after purchasing an additional 4,145 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.
Shares of FREQ stock traded down $0.39 during mid-day trading on Tuesday, hitting $17.76. The stock had a trading volume of 131,928 shares, compared to its average volume of 121,736. Frequency Therapeutics has a fifty-two week low of $11.17 and a fifty-two week high of $28.78. The firm has a market cap of $597.55 million and a PE ratio of -13.98. The company’s 50-day simple moving average is $21.55 and its 200-day simple moving average is $19.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.82.
Frequency Therapeutics (NASDAQ:FREQ) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.19). Frequency Therapeutics had a negative net margin of 38.02% and a negative return on equity of 15.53%. On average, analysts expect that Frequency Therapeutics will post -1.03 EPS for the current year.
About Frequency Therapeutics
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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