Stock Traders Purchase High Volume of Call Options on Frequency Therapeutics (NASDAQ:FREQ)


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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.

In other news, CEO David L. Lucchino sold 34,104 shares of the company’s stock in a transaction on Monday, January 4th. The stock was sold at an average price of $33.21, for a total transaction of $1,132,593.84. Following the completion of the sale, the chief executive officer now directly owns 327,713 shares in the company, valued at approximately $10,883,348.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Lucchino sold 27,586 shares of the company’s stock in a transaction on Wednesday, January 6th. The shares were sold at an average price of $38.57, for a total value of $1,063,992.02. Following the sale, the chief executive officer now owns 335,672 shares of the company’s stock, valued at $12,946,869.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,300 shares of company stock valued at $5,803,522. Corporate insiders own 15.40% of the company’s stock.

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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