The price of Frequency Therapeutics Inc. (NASDAQ:FREQ) shares last traded on Wall Street fell -3.65% to $4.75.
Based on available information, 5 analysts follow Frequency Therapeutics Inc. (NASDAQ:FREQ). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $2.00, we find $7.50. Given the previous closing price of $4.93, this indicates a potential upside of 52.13 percent. FREQ stock price is now 78.00% away from the 50-day moving average and 143.20% away from the 200-day moving average. The market capitalization of the company currently stands at $173.80M.
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Among analysts, 1 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $6.75 as their price target over the next twelve months.
With the price target reduced from $12 to $9, Goldman Downgraded its rating from Buy to Neutral for Frequency Therapeutics Inc. (NASDAQ: FREQ). On January 27, 2021, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock keeping its target price maintained at $56, while ‘B. Riley Securities’ rates the stock as ‘Buy’.
In other news, Mitrano Richard J., VP Finance & Operations sold 2,184 shares of the company’s stock on Jul 06. The stock was sold for $3,363 at an average price of $1.54. Upon completion of the transaction, the VP Finance & Operations now directly owns 30,995 shares in the company, valued at $0.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 06, Chief Scientific Officer Loose Christopher R. sold 4,415 shares of the business’s stock. A total of $6,755 was realized by selling the stock at an average price of $1.53. This leaves the insider owning 50,050 shares of the company worth $0.24 million. Insiders disposed of 51,991 shares of company stock worth roughly $0.25 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FREQ stock. A new stake in Frequency Therapeutics Inc. shares was purchased by JANE STREET GROUP, LLC during the first quarter worth $117,000. CHARLES SCHWAB INVESTMENT MANAGEMENT INC invested $111,000 in shares of FREQ during the first quarter. In the first quarter, BROWN ADVISORY INC acquired a new stake in Frequency Therapeutics Inc. valued at approximately $94,000. CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in FREQ for approximately $61,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in FREQ valued at around $56,000 in the second quarter. In total, there are 94 active investors with 22.60% ownership of the company’s stock.
A candlestick chart of Frequency Therapeutics Inc. (NASDAQ: FREQ) showed a price of $5.0500 on Friday morning. During the past 12 months, Frequency Therapeutics Inc. has had a low of $1.00 and a high of $5.79. As of last week, the company has a debt-to-equity ratio of 0.18, a current ratio of 5.00, and a quick ratio of 5.00. The fifty day moving average price for FREQ is $2.7183 and a two-hundred day moving average price translates $1.9669 for the stock.
The latest earnings results from Frequency Therapeutics Inc. (NASDAQ: FREQ) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$0.61, beating analysts’ expectations of -$0.67 by 0.06. This compares to -$0.73 EPS in the same period last year. The company reported revenue of $20.27 million for the quarter, compared to $24.99 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -18.87 percent. For the current quarter, analysts expect FREQ to generate $3.25M in revenue.
Frequency Therapeutics Inc.(FREQ) Company Profile
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 and activate progenitor cells within the body to create functional tissue. The company’s lead product candidate is FX-322, which is in Phase IIa clinical trial to treat the underlying cause of sensorineural hearing loss. It is also developing medicines for patients across a range of degenerative conditions, including multiple sclerosis, and diseases of the muscle, gastrointestinal tract, skin, and bone. The company has a license and collaboration agreement with Astellas Pharma Inc. for the development and commercialization of FX-322, as well as collaboration and licensing agreements with Massachusetts Eye and Ear, the Massachusetts Institute of Technology, The Scripps Research Institute, and Cambridge Enterprises Limited. Frequency Therapeutics, Inc. was incorporated in 2014 and is headquartered in Lexington, Massachusetts.
