Frequency Therapeutics, Inc. (NASDAQ:FREQ) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 1,163 call options on the company. This represents an increase of 1,636% compared to the average daily volume of 67 call options.
Shares of NASDAQ:FREQ opened at $34.52 on Thursday. Frequency Therapeutics has a 1 year low of $14.50 and a 1 year high of $42.89. The company has a market cap of $1.16 billion, a PE ratio of -49.31 and a beta of 0.65. The stock’s 50-day moving average is $32.74 and its 200 day moving average is $24.58.
Frequency Therapeutics (NASDAQ:FREQ) last announced its quarterly earnings results on Sunday, November 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.12. Frequency Therapeutics had a negative return on equity of 12.56% and a negative net margin of 68.59%. The company had revenue of $11.25 million for the quarter, compared to the consensus estimate of $7.00 million. Equities research analysts anticipate that Frequency Therapeutics will post -0.79 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the business. Wasatch Advisors Inc. grew its stake in shares of Frequency Therapeutics by 58.8% in the 3rd quarter. Wasatch Advisors Inc. now owns 3,412,962 shares of the company’s stock worth $65,563,000 after buying an additional 1,263,778 shares during the last quarter. Perceptive Advisors LLC increased its stake in shares of Frequency Therapeutics by 7.3% in the 3rd quarter. Perceptive Advisors LLC now owns 3,256,518 shares of the company’s stock worth $62,558,000 after purchasing an additional 222,222 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Frequency Therapeutics by 0.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,362,900 shares of the company’s stock worth $26,181,000 after purchasing an additional 4,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Frequency Therapeutics by 402.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,063,134 shares of the company’s stock worth $24,719,000 after purchasing an additional 851,444 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Frequency Therapeutics by 0.9% in the 3rd quarter. State Street Corp now owns 443,805 shares of the company’s stock worth $8,525,000 after purchasing an additional 4,112 shares in the last quarter. Hedge funds and other institutional investors own 52.00% of the company’s stock.
Several analysts recently weighed in on the company. B. Riley assumed coverage on Frequency Therapeutics in a research report on Tuesday, December 22nd. They set a “buy” rating for the company. BidaskClub downgraded Frequency Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 6th. Oppenheimer upped their price objective on Frequency Therapeutics from $36.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 16th. Finally, ValuEngine downgraded Frequency Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $33.00.
Frequency Therapeutics Company 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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