Freeline Therapeutics (NASDAQ:FRLN) Shares Set to Reverse Split on Friday, May 12th

Posted by on Apr 26th, 2023

Freeline Therapeutics Holdings plc (NASDAQ:FRLN – Get Rating)’s stock is going to reverse split before the market opens on Friday, May 12th. The 1-15 reverse split was announced on Friday, May 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, May 12th.

Freeline Therapeutics Stock Performance

NASDAQ FRLN opened at $0.38 on Wednesday. The firm has a market cap of $24.73 million, a price-to-earnings ratio of -0.25 and a beta of 0.51. The company has a 50 day moving average of $0.46 and a 200-day moving average of $0.55. Freeline Therapeutics has a 1-year low of $0.38 and a 1-year high of $1.12.

Wall Street Analyst Weigh In

FRLN has been the topic of several research analyst reports. Stifel Nicolaus cut shares of Freeline Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $2.00 to $1.00 in a research note on Tuesday, April 4th. BTIG Research reduced their price objective on shares of Freeline Therapeutics from $3.00 to $2.00 in a research note on Thursday, April 6th. Finally, HC Wainwright dropped their price objective on shares of Freeline Therapeutics from $15.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th.

Institutional Trading of Freeline Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in Freeline Therapeutics by 50.0% in the 1st quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock valued at $67,000 after purchasing an additional 20,000 shares during the period. Acadian Asset Management LLC acquired a new position in Freeline Therapeutics in the 1st quarter valued at approximately $30,000. Thrivent Financial for Lutherans bought a new stake in shares of Freeline Therapeutics in the 4th quarter valued at $37,000. Renaissance Technologies LLC boosted its stake in Freeline Therapeutics by 112.5% during the first quarter. Renaissance Technologies LLC now owns 446,412 shares of the company’s stock worth $500,000 after acquiring an additional 236,312 shares in the last quarter. Finally, TFG Asset Management GP Ltd boosted its stake in Freeline Therapeutics by 6.4% during the third quarter. TFG Asset Management GP Ltd now owns 4,000,000 shares of the company’s stock worth $2,800,000 after acquiring an additional 239,492 shares in the last quarter. Institutional investors own 58.41% of the company’s stock.

About Freeline Therapeutics

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Freeline Therapeutics Holdings plc, a clinical-stage biotechnology company, develops transformative adeno-associated virus (AAV) vector-mediated gene therapies for patients suffering from inherited systemic debilitating diseases. Its advanced product candidate is verbrinacogene setparvovec (FLT180a), a gene therapy product candidate that is in Phase 1/2 clinical trials in adult males for the treatment of hemophilia B.

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