Frequency Therapeutics (NASDAQ:FREQ) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Frequency Therapeutics (NASDAQ:FREQGet Rating) from a buy rating to a hold rating in a research note released on Tuesday morning, 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 dropped their target price on Frequency Therapeutics from $17.00 to $10.00 and set a buy rating on the stock in a research note on Wednesday, March 23rd.

Shares of NASDAQ:FREQ opened at $1.17 on Tuesday. Frequency Therapeutics has a 12-month low of $1.07 and a 12-month high of $10.90. The business’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $3.59. The company has a market capitalization of $40.92 million, a PE ratio of -0.46 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 (NASDAQ:FREQGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.01). Research analysts predict that Frequency Therapeutics will post -2.44 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Frequency Therapeutics by 3.9% during the 3rd quarter. BlackRock Inc. now owns 3,191,851 shares of the company’s stock valued at $22,536,000 after purchasing an additional 121,095 shares during the last quarter. Two Sigma Advisers LP grew its stake in Frequency Therapeutics by 11.0% during the 3rd quarter. Two Sigma Advisers LP now owns 182,200 shares of the company’s stock valued at $1,286,000 after purchasing an additional 18,100 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Frequency Therapeutics during the 3rd quarter valued at about $576,000. Goldman Sachs Group Inc. grew its stake in Frequency Therapeutics by 61.4% during the 3rd quarter. Goldman Sachs Group Inc. now owns 135,692 shares of the company’s stock valued at $958,000 after purchasing an additional 51,627 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Frequency Therapeutics during the 3rd quarter valued at about $73,000. Institutional investors and hedge funds own 50.64% of the company’s stock.

Frequency Therapeutics Company Profile (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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