Frequency Therapeutics initiated with a Buy at Chardan

Chardan analyst Daniil Gataulin initiated coverage of Frequency Therapeutics with a Buy rating and $7 price target. The analyst cites the potential of the company’s progenitor cell activation approach in treating degenerative diseases, with the initial focus on sensorineural hearing loss, for the Buy rating. Frequency’s lead compound, FX-322, is in the later stages of a Phase 2b trial in patients with noise induced hearing loss and sudden sensorineural hearing loss, with data expected in Q1 of 2023, Gataulin tells investors in a research note.