Frequency Therapeutics (NASDAQ:FREQ) lifted to buy at Zacks Investment Research

Therapeutic Frequency (NASDAQ: FREQGet a rating) has been updated by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Thursday, reports. The brokerage currently has a price target of $1.50 on the stock. Zacks Investment ResearchThe company’s price target indicates an upside potential of 13.64% from the company’s current price.

According to Zacks, “Frequency Therapeutics Inc. is a clinical-stage biotechnology company. It focuses on harnessing the body’s innate biology to repair or reverse damage caused by a wide 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 cut his price target on Frequency Therapeutics shares from $17.00 to $10.00 and set a “buy” rating on the stock in a Wednesday 23 research report. march.

Action FREQ traded down $0.07 in midday trading on Thursday, hitting $1.32. The company had a trading volume of 628,376 shares, compared to an average volume of 537,561. The company has a market capitalization of $46.17 million, a price-earnings ratio of -0.52 and a beta of 0, 97. Frequency Therapeutics has a 12-month low of $1.07 and a 12-month high of $10.90. The company has a quick ratio of 9.85, a current ratio of 9.85 and a leverage ratio of 0.10. The company has a 50-day moving average price of $1.37 and a 200-day moving average price of $3.28.

Therapeutic Frequency (NASDAQ: FREQGet a rating) last announced its quarterly results on Wednesday, May 4. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.01). As a group, analysts expect Frequency Therapeutics to post -2.44 EPS for the current year.

Hedge funds and other institutional investors have recently changed their positions in the company. Tortoise Investment Management LLC bought a new position in Frequency Therapeutics during Q1 worth approximately $27,000. Duncker Streett & Co. Inc. acquired a new position in Frequency Therapeutics during Q1 worth approximately $33,000. Citigroup Inc. increased its holdings in Frequency Therapeutics by 56.6% during the fourth quarter. Citigroup Inc. now owns 9,203 shares of the company valued at $47,000 after buying 3,325 additional shares in the last quarter. Mirabella Financial Services LLP bought a new position in Frequency Therapeutics during Q1 worth approximately $49,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Frequency Therapeutics during Q1, valued at around $54,000. Hedge funds and other institutional investors own 50.64% of the company’s shares.

About Frequency Therapeutics (Get a rating)

Frequency Therapeutics, Inc., a clinical-stage biotechnology company, is focused on developing therapies to activate a person’s innate regenerative potential to restore function. His progenitor cell activation approach uses small molecules and activates progenitor cells in the body to create functional tissues.

Further reading

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