Frequency Therapeutics (NASDAQ:FREQ) Trading Down 9.4%

Frequency Therapeutics, Inc. (NASDAQ:FREQ) shares traded down 9.4% during trading on Monday . The stock traded as low as $0.37 and last traded at $0.38. 140,223 shares were traded during mid-day trading, a decline of 85% from the average session volume of 953,900 shares. The stock had previously closed at $0.42.

Frequency Therapeutics Stock Performance

The company has a 50 day moving average price of $0.54 and a 200 day moving average price of $0.46. The company has a market capitalization of $14.02 million, a price-to-earnings ratio of -0.20 and a beta of 0.70.

Frequency Therapeutics (NASDAQ:FREQ) last issued its earnings results on Thursday, August 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. Research analysts forecast that Frequency Therapeutics, Inc. will post -1.7 EPS for the current year.

Hedge Funds Weigh In On Frequency Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FREQ. BlackRock Inc. boosted its stake in Frequency Therapeutics by 8.4% during the 1st quarter. BlackRock Inc. now owns 3,301,798 shares of the company’s stock valued at $6,999,000 after purchasing an additional 256,801 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Frequency Therapeutics by 6.0% in the 1st quarter. Federated Hermes Inc. now owns 2,968,046 shares of the company’s stock worth $6,293,000 after buying an additional 166,980 shares during the last quarter. Mariner LLC purchased a new position in shares of Frequency Therapeutics in the 1st quarter worth approximately $273,000. Jaffetilchin Investment Partners LLC boosted its stake in shares of Frequency Therapeutics by 80.1% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 47,483 shares of the company’s stock worth $59,000 after buying an additional 21,111 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Frequency Therapeutics by 2,031.1% in the 1st quarter. Renaissance Technologies LLC now owns 285,561 shares of the company’s stock worth $605,000 after buying an additional 272,161 shares during the last quarter. Institutional investors and hedge funds own 13.18% of the company’s stock.

About Frequency Therapeutics

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 to activate progenitor cells within the body to create functional tissue.