Short Interest in Frequency Therapeutics, Inc. (NASDAQ:FREQ) Decreases By 23.6%

Frequency Therapeutics, Inc. (NASDAQ:FREQ) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 6,080,000 shares, a drop of 23.6% from the March 31st total of 7,960,000 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is currently ∞ days.

Several equities research analysts have recently weighed in on FREQ shares. TheStreet lowered Frequency Therapeutics from a “c-” rating to a “d” rating in a research note on Monday, April 5th. B. Riley dropped their price target on Frequency Therapeutics from $79.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, March 24th. Oppenheimer reduced their price objective on shares of Frequency Therapeutics from $68.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, March 30th. Zacks Investment Research downgraded shares of Frequency Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 26th. Finally, JPMorgan Chase & Co. upgraded shares of Frequency Therapeutics from a “neutral” rating to an “overweight” rating and set a $56.00 price target for the company in a research report on Wednesday, January 27th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.25.

In related news, CEO David L. Lucchino sold 9,416 shares of the stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $50.43, for a total transaction of $474,848.88. Following the completion of the sale, the chief executive officer now directly owns 317,502 shares of the company’s stock, valued at $16,011,625.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David L. Lucchino sold 16,554 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $55.00, for a total transaction of $910,470.00. Following the sale, the chief executive officer now owns 324,640 shares of the company’s stock, valued at $17,855,200. The disclosure for this sale can be found here. Insiders sold a total of 35,970 shares of company stock worth $1,839,919 in the last three months. Company insiders own 15.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in shares of Frequency Therapeutics during the fourth quarter worth $25,000. Penserra Capital Management LLC acquired a new position in Frequency Therapeutics in the 4th quarter worth about $27,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Frequency Therapeutics during the 4th quarter worth about $31,000. Meeder Asset Management Inc. purchased a new stake in shares of Frequency Therapeutics during the 1st quarter worth about $27,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of Frequency Therapeutics during the 4th quarter valued at about $160,000. Institutional investors and hedge funds own 57.48% of the company’s stock.

NASDAQ:FREQ traded down $0.52 on Tuesday, hitting $10.59. 632,037 shares of the company’s stock traded hands, compared to its average volume of 1,172,648. The company has a market cap of $362.38 million, a PE ratio of -15.13 and a beta of 0.69. Frequency Therapeutics has a 1 year low of $7.34 and a 1 year high of $58.37. The firm has a 50-day moving average price of $14.83 and a 200-day moving average price of $29.94.

Frequency Therapeutics (NASDAQ:FREQ) last announced its quarterly earnings data on Sunday, March 28th. The company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.05). Frequency Therapeutics had a negative net margin of 68.59% and a negative return on equity of 12.56%. Analysts predict that Frequency Therapeutics will post -0.79 earnings per share for the current fiscal year.

About Frequency Therapeutics

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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