Frequency Therapeutics (NASDAQ:FREQ) Stock Rating Upgraded by Zacks Investment Research

Frequency Therapeutics (NASDAQ:FREQGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Frequency Therapeutics Inc. is a clinical-stage biotechnology company. It is focused on harnessing the body’s innate biology to repair or reverse damage caused by a broad range of degenerative diseases. The company’s lead product candidate, FX-322, is in clinical development and is designed to regenerate auditory hair cells to restore hearing function in patients with sensorineural hearing loss. Frequency Therapeutics Inc. is headquartered in Woburn, Mass. “

Separately, B. Riley lowered their price objective on Frequency Therapeutics from $17.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, March 23rd.

NASDAQ:FREQ traded up $0.04 during midday trading on Wednesday, hitting $1.17. 298,167 shares of the company traded hands, compared to its average volume of 544,803. The firm’s fifty day moving average is $1.60 and its 200-day moving average is $3.63. The firm has a market capitalization of $40.92 million, a P/E ratio of -0.44 and a beta of 0.96. The company has a current ratio of 9.85, a quick ratio of 9.85 and a debt-to-equity ratio of 0.10. Frequency Therapeutics has a 12-month low of $1.07 and a 12-month high of $10.90.

Frequency Therapeutics (NASDAQ:FREQGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.01). On average, research analysts expect that Frequency Therapeutics will post -2.44 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mirabella Financial Services LLP purchased a new position in Frequency Therapeutics in the first quarter valued at about $49,000. Goldman Sachs Group Inc. raised its position in Frequency Therapeutics by 17.3% in the first quarter. Goldman Sachs Group Inc. now owns 163,508 shares of the company’s stock valued at $346,000 after purchasing an additional 24,088 shares during the period. Renaissance Technologies LLC raised its position in Frequency Therapeutics by 2,031.1% in the first quarter. Renaissance Technologies LLC now owns 285,561 shares of the company’s stock valued at $605,000 after purchasing an additional 272,161 shares during the period. Jaffetilchin Investment Partners LLC raised its position in Frequency Therapeutics by 80.1% in the first quarter. Jaffetilchin Investment Partners LLC now owns 47,483 shares of the company’s stock valued at $59,000 after purchasing an additional 21,111 shares during the period. Finally, Mariner LLC purchased a new position in Frequency Therapeutics in the first quarter valued at about $273,000. 50.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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