Frequency Therapeutics (NASDAQ:FREQ) Short Interest Up 6.0% in January

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Frequency Therapeutics (NASDAQ:FREQ) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,120,000 shares, a growth of 6.0% from the January 15th total of 2,000,000 shares. Based on an average daily volume of 136,200 shares, the days-to-cover ratio is currently 15.6 days. Currently, 8.2% of the company’s shares are short sold.

NASDAQ FREQ opened at $24.15 on Friday. Frequency Therapeutics has a 1 year low of $11.17 and a 1 year high of $28.78. The business has a 50-day simple moving average of $22.06.

Frequency Therapeutics (NASDAQ:FREQ) last posted its earnings results on Monday, November 18th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.05). The company had revenue of $24.24 million during the quarter. On average, analysts predict that Frequency Therapeutics will post -0.98 EPS for the current fiscal year.

Several analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on Frequency Therapeutics in a research note on Monday, October 28th. They issued a “buy” rating and a $30.00 target price on the stock. ValuEngine cut Frequency Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Zacks Investment Research cut Frequency Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. assumed coverage on Frequency Therapeutics in a research note on Monday, October 28th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, Cowen reissued a “buy” rating on shares of Frequency Therapeutics in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $25.33.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC bought a new stake in shares of Frequency Therapeutics in the fourth quarter worth about $49,812,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Frequency Therapeutics in the fourth quarter worth about $8,289,000. Matthews International Capital Management LLC bought a new stake in shares of Frequency Therapeutics in the fourth quarter worth about $7,662,000. Laurion Capital Management LP purchased a new stake in Frequency Therapeutics in the fourth quarter worth about $4,383,000. Finally, FMR LLC purchased a new stake in Frequency Therapeutics in the fourth quarter worth about $1,547,000.

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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