Insider Selling: Morphic Holding (NASDAQ:MORF) Insider Sells 718 Shares of Stock

Morphic Holding (NASDAQ:MORF) insider Alexey Lugovskoy sold 718 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $27.03, for a total transaction of $19,407.54. Following the completion of the transaction, the insider now owns 95,966 shares in the company, valued at $2,593,960.98. The transaction was disclosed in a filing with the SEC, which is available at this link.

Alexey Lugovskoy also recently made the following trade(s):

  • On Thursday, October 8th, Alexey Lugovskoy sold 4,755 shares of Morphic stock. The shares were sold at an average price of $26.23, for a total transaction of $124,723.65.
  • On Monday, October 5th, Alexey Lugovskoy sold 1,000 shares of Morphic stock. The shares were sold at an average price of $26.50, for a total transaction of $26,500.00.
  • On Thursday, October 1st, Alexey Lugovskoy sold 1,627 shares of Morphic stock. The shares were sold at an average price of $27.60, for a total transaction of $44,905.20.

Shares of MORF stock opened at $27.50 on Friday. The firm has a market cap of $843.10 million, a P/E ratio of -13.55 and a beta of 0.95. Morphic Holding has a 1-year low of $9.90 and a 1-year high of $31.00. The firm’s 50-day simple moving average is $26.74 and its 200-day simple moving average is $22.61.

Morphic (NASDAQ:MORF) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.52) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.04. The company had revenue of $7.69 million for the quarter, compared to analysts’ expectations of $5.60 million. As a group, equities analysts expect that Morphic Holding will post -1.72 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Morphic by 0.4% during the 2nd 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 grew its stake in Morphic by 133.0% during 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 period. Geode Capital Management LLC increased its position in shares of Morphic by 59.7% in the first quarter. Geode Capital Management LLC now owns 119,495 shares of the company’s stock worth $1,754,000 after acquiring an additional 44,666 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Morphic in the 1st quarter valued at $1,120,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Morphic during the 2nd quarter valued at $1,894,000. Institutional investors and hedge funds own 60.84% of the company’s stock.

A number of research analysts have issued reports on the stock. BMO Capital Markets restated a “buy” rating and issued a $37.00 target price on shares of Morphic in a report on Wednesday, August 26th. ValuEngine upgraded shares of Morphic from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. BidaskClub upgraded shares of Morphic from a “hold” rating to a “buy” rating in a report on Thursday, July 23rd. Finally, Zacks Investment Research lowered shares of Morphic from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.50.

Morphic Company Profile

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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