Frequency Therapeutics (NASDAQ:FREQ) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Frequency Therapeutics (NASDAQ:FREQ) posted its quarterly earnings data on Monday. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.05), Bloomberg Earnings reports. The firm had revenue of $24.24 million during the quarter.

FREQ stock opened at $16.16 on Thursday. Frequency Therapeutics has a 52-week low of $11.17 and a 52-week high of $17.44.

In related news, insider James E. Flynn purchased 285,714 shares of the business’s stock in a transaction on Monday, October 7th. The stock was acquired at an average price of $12.67 per share, for a total transaction of $3,619,996.38. Also, Director Marc A. Cohen purchased 17,857 shares of the business’s stock in a transaction on Monday, October 7th. The shares were bought at an average price of $12.84 per share, with a total value of $229,283.88.

A number of analysts recently commented on the company. Goldman Sachs Group assumed coverage on Frequency Therapeutics in a research report on Monday, October 28th. They issued a “buy” rating and a $30.00 target price for the company. ValuEngine lowered Frequency Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Cowen reaffirmed a “buy” rating on shares of Frequency Therapeutics in a research report on Monday. Finally, JPMorgan Chase & Co. assumed coverage on Frequency Therapeutics in a research report on Monday, October 28th. They issued an “overweight” rating and a $25.00 target price for the company.

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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