Short Interest in Freeline Therapeutics Holdings plc (NASDAQ:FRLN) Drops By 17.1%

Freeline Therapeutics Holdings plc (NASDAQ:FRLN) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 105,900 shares, a drop of 17.1% from the August 15th total of 127,800 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 369,400 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Freeline Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in Freeline Therapeutics in the first quarter valued at approximately $30,000. Federated Hermes Inc. raised its stake in Freeline Therapeutics by 50.0% during the 1st quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock worth $67,000 after buying an additional 20,000 shares during the period. Renaissance Technologies LLC lifted its holdings 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. UBS Group AG acquired a new position in Freeline Therapeutics in the first quarter valued at about $565,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Freeline Therapeutics in the fourth quarter worth about $37,000. Institutional investors own 46.26% of the company’s stock.

Freeline Therapeutics Stock Performance

Shares of NASDAQ:FRLN traded down $0.03 during trading on Tuesday, reaching $4.15. The stock had a trading volume of 4,905 shares, compared to its average volume of 172,285. Freeline Therapeutics has a 52 week low of $2.11 and a 52 week high of $12.60. The business’s 50-day moving average price is $4.05 and its 200 day moving average price is $4.36.

Freeline Therapeutics (NASDAQ:FRLN) last posted its quarterly earnings data on Tuesday, August 15th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($3.62) by $3.41. The company had revenue of $0.62 million during the quarter. As a group, sell-side analysts anticipate that Freeline Therapeutics will post -1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FRLN. Stifel Nicolaus lifted their price target on shares of Freeline Therapeutics from $1.00 to $3.00 in a research note on Wednesday, May 31st. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Freeline Therapeutics in a research note on Thursday, August 17th. 500.com restated a “reiterates” rating on shares of Freeline Therapeutics in a research note on Wednesday, May 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Freeline Therapeutics in a research note on Tuesday, August 15th.

Freeline Therapeutics Company Profile

Freeline Therapeutics Holdings plc, a clinical-stage biotechnology company, develops transformative adeno-associated virus (AAV) vector-mediated gene therapies. It develops FLT180a for the treatment of hemophilia B.; FLT201 for the treatment of Type 1 Gaucher disease; and FLT190 for the treatment of Fabry disease.