Brokerages Set Frequency Therapeutics (NASDAQ:FREQ) PT at $31.00

Shares of Frequency Therapeutics (NASDAQ:FREQ) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $29.25.

A number of research analysts recently issued reports on FREQ shares. Zacks Investment Research upgraded shares of Frequency Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of Frequency Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $27.00 in a research note on Monday, May 18th. Oppenheimer initiated coverage on shares of Frequency Therapeutics in a research note on Monday. They issued an “outperform” rating and a $36.00 price target for the company. Finally, ValuEngine upgraded shares of Frequency Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd.

In related news, insider Christopher R. Loose sold 4,500 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $14.84, for a total value of $66,780.00. Following the completion of the sale, the insider now owns 196,282 shares in the company, valued at approximately $2,912,824.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David L. Lucchino sold 3,100 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $16.00, for a total transaction of $49,600.00. Following the completion of the sale, the chief executive officer now owns 456,892 shares of the company’s stock, valued at approximately $7,310,272. The disclosure for this sale can be found here. Insiders have sold a total of 85,052 shares of company stock valued at $1,605,589 in the last 90 days. Insiders own 15.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bainco International Investors purchased a new stake in Frequency Therapeutics in the 1st quarter valued at $71,000. Bank of America Corp DE purchased a new stake in Frequency Therapeutics in the 4th quarter valued at $71,000. Victory Capital Management Inc. purchased a new stake in Frequency Therapeutics in the 4th quarter valued at $107,000. Wells Fargo & Company MN raised its position in Frequency Therapeutics by 506.1% in the 1st quarter. Wells Fargo & Company MN now owns 4,964 shares of the company’s stock valued at $88,000 after purchasing an additional 4,145 shares during the last quarter. Finally, UBS Group AG purchased a new stake in Frequency Therapeutics in the 4th quarter valued at $141,000. Hedge funds and other institutional investors own 40.74% of the company’s stock.

Shares of FREQ stock opened at $21.76 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.80 and a current ratio of 4.80. The company has a 50 day moving average price of $20.98 and a 200 day moving average price of $20.02. Frequency Therapeutics has a fifty-two week low of $11.17 and a fifty-two week high of $28.78.

Frequency Therapeutics (NASDAQ:FREQ) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $7.26 million during the quarter. On average, equities analysts predict that Frequency Therapeutics will post -0.86 earnings per share for the current year.

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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