Insider Selling: Morphic Holding (NASDAQ:MORF) CAO Sells $31,045.98 in Stock

Morphic Holding (NASDAQ:MORF) CAO Robert E. Farrell, Jr. sold 1,149 shares of the company’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $27.02, for a total transaction of $31,045.98. Following the completion of the sale, the chief accounting officer now directly owns 59,083 shares of the company’s stock, valued at approximately $1,596,422.66. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of MORF stock opened at $27.50 on Friday. The company has a 50 day moving average price of $26.74 and a 200-day moving average price of $22.61. Morphic Holding has a 52 week low of $9.90 and a 52 week high of $31.00. The firm has a market capitalization of $843.10 million, a PE ratio of -13.55 and a beta of 0.95.

Morphic (NASDAQ:MORF) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.04. The company had revenue of $7.69 million during the quarter, compared to the consensus estimate of $5.60 million. Sell-side analysts forecast that Morphic Holding will post -1.72 EPS for the current year.

MORF has been the subject of several analyst reports. BMO Capital Markets reissued a “buy” rating and set a $37.00 price target on shares of Morphic in a research report on Wednesday, August 26th. ValuEngine upgraded shares of Morphic from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. BidaskClub upgraded shares of Morphic from a “hold” rating to a “buy” rating in a research note on Thursday, July 23rd. Finally, Zacks Investment Research lowered shares of Morphic from a “buy” rating to a “hold” rating in a research note on Thursday, October 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Morphic presently has an average rating of “Buy” and an average target price of $33.50.

Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Morphic by 0.4% in the second quarter. FMR LLC now owns 4,590,426 shares of the company’s stock worth $124,171,000 after acquiring an additional 18,013 shares during the period. State Street Corp boosted its holdings in shares of Morphic by 133.0% in the first quarter. State Street Corp now owns 169,158 shares of the company’s stock worth $2,483,000 after buying an additional 96,548 shares during the last quarter. Geode Capital Management LLC grew its position in Morphic by 59.7% during the first quarter. Geode Capital Management LLC now owns 119,495 shares of the company’s stock valued at $1,754,000 after buying an additional 44,666 shares during the period. Nuveen Asset Management LLC bought a new position in Morphic in the first quarter worth approximately $1,120,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Morphic during the 2nd quarter worth $1,894,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.

About Morphic

Morphic Holding, Inc, a biopharmaceutical company, focuses on the discovery and development of oral small-molecule integrin therapeutics. The company's lead product candidates in clinical development are MORF-720, a selective oral avb6 specific integrin inhibitor for the treatment of idiopathic pulmonary fibrosis; and a4b7 specific integrin inhibitors for the treatment of inflammatory bowel disease.

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