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.
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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