Frequency Therapeutics (NASDAQ:FREQ) Posts Earnings Results, Misses Expectations By $0.03 EPS

Frequency Therapeutics (NASDAQ:FREQGet Rating) released its quarterly earnings results on Wednesday. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.03), MarketWatch Earnings reports.

FREQ stock opened at $1.27 on Friday. Frequency Therapeutics has a 52-week low of $1.17 and a 52-week high of $10.90. The company’s 50 day simple moving average is $1.91 and its 200-day simple moving average is $4.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 11.79 and a current ratio of 11.79.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in Frequency Therapeutics by 10.9% in the 2nd quarter. Bank of America Corp DE now owns 32,529 shares of the company’s stock valued at $324,000 after buying an additional 3,201 shares during the period. Citigroup Inc. increased its stake in Frequency Therapeutics by 56.6% in the 4th quarter. Citigroup Inc. now owns 9,203 shares of the company’s stock valued at $47,000 after buying an additional 3,325 shares during the period. Goldman Sachs Group Inc. increased its stake in Frequency Therapeutics by 2.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 139,420 shares of the company’s stock valued at $715,000 after buying an additional 3,728 shares during the period. Bank of New York Mellon Corp increased its stake in Frequency Therapeutics by 7.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 117,864 shares of the company’s stock valued at $832,000 after buying an additional 8,408 shares during the period. Finally, Invesco Ltd. acquired a new position in Frequency Therapeutics in the 2nd quarter valued at approximately $121,000. Hedge funds and other institutional investors own 50.64% of the company’s stock.

Separately, B. Riley cut their price target on shares of Frequency Therapeutics from $17.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 23rd.

About Frequency Therapeutics (Get Rating)

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.

Further Reading

Earnings History for Frequency Therapeutics (NASDAQ:FREQ)

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