FY2023 EPS Estimates for Frequency Therapeutics, Inc. Raised by Oppenheimer (NASDAQ:FREQ)

Frequency Therapeutics, Inc. (NASDAQ:FREQ – Get Rating) – Equities researchers at Oppenheimer boosted their FY2023 earnings per share (EPS) estimates for shares of Frequency Therapeutics in a report released on Tuesday, March 14th. Oppenheimer analyst J. Olson now anticipates that the company will post earnings of ($1.80) per share for the year, up from their previous forecast of ($2.85). Oppenheimer currently has a “Market Perform” rating on the stock. The consensus estimate for Frequency Therapeutics’ current full-year earnings is ($1.55) per share. Oppenheimer also issued estimates for Frequency Therapeutics’ FY2024 earnings at ($1.87) EPS, FY2025 earnings at ($2.00) EPS and FY2026 earnings at ($2.12) EPS.

A number of other equities analysts have also commented on the stock. Robert W. Baird cut their price objective on shares of Frequency Therapeutics from $10.00 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, February 14th. Cowen lowered shares of Frequency Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, February 13th. Cowen lowered shares of Frequency Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, February 13th. Finally, Chardan Capital downgraded shares of Frequency Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Frequency Therapeutics presently has a consensus rating of “Hold” and an average target price of $7.25.

Frequency Therapeutics Price Performance

FREQ stock opened at $0.55 on Friday. Frequency Therapeutics has a one year low of $0.52 and a one year high of $5.59. The company has a 50 day moving average price of $2.54 and a two-hundred day moving average price of $2.28. The company has a quick ratio of 5.05, a current ratio of 4.16 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On Frequency Therapeutics

Several hedge funds have recently made changes to their positions in FREQ. BlackRock Inc. increased its stake in Frequency Therapeutics by 8.4% in the 1st quarter. BlackRock Inc. now owns 3,301,798 shares of the company’s stock valued at $6,999,000 after buying an additional 256,801 shares during the period. Federated Hermes Inc. lifted its holdings in Frequency Therapeutics by 6.0% during the 1st quarter. Federated Hermes Inc. now owns 2,968,046 shares of the company’s stock valued at $6,293,000 after purchasing an additional 166,980 shares during the last quarter. Mariner LLC bought a new position in Frequency Therapeutics during the 1st quarter valued at about $273,000. Jaffetilchin Investment Partners LLC increased its position in Frequency Therapeutics by 80.1% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 47,483 shares of the company’s stock valued at $59,000 after acquiring an additional 21,111 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Frequency Therapeutics by 2,031.1% in the 1st quarter. Renaissance Technologies LLC now owns 285,561 shares of the company’s stock valued at $605,000 after acquiring an additional 272,161 shares in the last quarter. Hedge funds and other institutional investors own 22.37% of the company’s stock.

Frequency Therapeutics Company Profile

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Frequency Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing therapeutics to activate a person's innate regenerative potential to restore function. Its Progenitor Cell Activation approach uses small molecules and activate progenitor cells within the body to create functional tissue.