In yesterday’s Wall Street session, Frequency Therapeutics Inc. (NASDAQ:FREQ) shares traded at $0.62, down -12.66% from the previous session.
3 analysts cover Frequency Therapeutics Inc. (NASDAQ:FREQ), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $0.71, we find $2.36. Given the previous closing price of $0.71, this indicates a potential upside of 232.39 percent. FREQ stock price is now 64.55% away from the 50-day moving average and -59.47% away from the 200-day moving average. The market capitalization of the company currently stands at $12.49M.
The stock has received a hold rating from 2 analysts and a buy rating from 0. Brokers who have rated the stock have averaged $2.36 as their price target over the next twelve months.
In other news, Lucchino David L., President and CEO sold 1,815 shares of the company’s stock on Jul 14. The stock was sold for $1,071 at an average price of $0.59. Upon completion of the transaction, the President and CEO now directly owns 705,582 shares in the company, valued at $0.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 14, Chief Scientific Officer Loose Christopher R. sold 906 shares of the business’s stock. A total of $535 was realized by selling the stock at an average price of $0.59. This leaves the insider owning 197,452 shares of the company worth $0.12 million. 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 ACADIAN ASSET MANAGEMENT LLC during the first quarter worth $87,000. MARSHALL WACE, LLP invested $42,000 in shares of FREQ during the first quarter. In the first quarter, RAYMOND JAMES & ASSOCIATES acquired a new stake in Frequency Therapeutics Inc. valued at approximately $13,000. SPIRE WEALTH MANAGEMENT acquired a new stake in FREQ for approximately $1,000. ORION CAPITAL MANAGEMENT LLC purchased a new stake in FREQ valued at around $1,000 in the second quarter. In total, there are 74 active investors with 22.60% ownership of the company’s stock.
On Monday morning Frequency Therapeutics Inc. (NASDAQ: FREQ) stock kicked off with the opening price of $0.6390. During the past 12 months, Frequency Therapeutics Inc. has had a low of $0.33 and a high of $5.59. As of last week, the company has a debt-to-equity ratio of 0.22, a current ratio of 3.10, and a quick ratio of 3.10. The fifty day moving average price for FREQ is $0.3817 and a two-hundred day moving average price translates $1.5238 for the stock.
The latest earnings results from Frequency Therapeutics Inc. (NASDAQ: FREQ) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.55, missing analysts’ expectations of -$0.42 by -0.13. This compares to -$0.67 EPS in the same period last year. The company reported revenue of $20.51 million for the quarter, compared to $23.26 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -11.81 percent.
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 to activate progenitor cells within the body to create functional tissue. The company’s lead product candidate is FX-322, which is in Phase IIb 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, and The Scripps Research Institute. Frequency Therapeutics, Inc. was incorporated in 2014 and is headquartered in Lexington, Massachusetts.
