Frequency Therapeutics, Inc. (NASDAQ:FREQ – Get Rating) saw a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 751,000 shares, a drop of 8.2% from the July 31st total of 817,800 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 488,000 shares, the days-to-cover ratio is presently 1.5 days.
Frequency Therapeutics Stock Performance
Shares of FREQ stock opened at $2.06 on Thursday. The stock’s 50-day moving average is $1.97 and its two-hundred day moving average is $1.89. The firm has a market cap of $72.64 million, a price-to-earnings ratio of -0.78 and a beta of 0.78. Frequency Therapeutics has a 1 year low of $1.00 and a 1 year high of $8.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.77 and a current ratio of 6.77.
Hedge Funds Weigh In On Frequency Therapeutics
Several hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. purchased a new position in shares of Frequency Therapeutics during the second quarter worth about $36,000. AQR Capital Management LLC grew its holdings in shares of Frequency Therapeutics by 245.0% during the second quarter. AQR Capital Management LLC now owns 100,820 shares of the company’s stock worth $151,000 after buying an additional 71,596 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Frequency Therapeutics by 236.1% during the second quarter. Millennium Management LLC now owns 290,762 shares of the company’s stock worth $436,000 after buying an additional 204,263 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Frequency Therapeutics by 116.5% during the second quarter. Renaissance Technologies LLC now owns 618,223 shares of the company’s stock worth $927,000 after buying an additional 332,662 shares during the last quarter. Finally, Waldron Private Wealth LLC purchased a new position in shares of Frequency Therapeutics during the second quarter worth about $106,000. Hedge funds and other institutional investors own 24.92% of the company’s stock.
Frequency Therapeutics Company Profile
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.
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