Fund V. L.P. Omega Sells 9,466 Shares of Morphic Holding, Inc. (NASDAQ:MORF) Stock

Morphic Holding, Inc. (NASDAQ:MORF) Director Fund V. L.P. Omega sold 9,466 shares of the business’s stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $32.35, for a total value of $306,225.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of MORF stock opened at $33.55 on Friday. Morphic Holding, Inc. has a 1 year low of $9.90 and a 1 year high of $36.65. The stock has a fifty day moving average of $31.89 and a two-hundred day moving average of $27.67. The firm has a market capitalization of $1.04 billion, a PE ratio of -21.51 and a beta of 1.01.

Morphic (NASDAQ:MORF) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.60. The business had revenue of $25.76 million for the quarter, compared to analyst estimates of $7.70 million. As a group, analysts predict that Morphic Holding, Inc. will post -1.28 EPS for the current year.

MORF has been the subject of a number of research analyst reports. Royal Bank of Canada initiated coverage on Morphic in a report on Monday, October 26th. They issued an “outperform” rating and a $35.00 price target for the company. Zacks Investment Research upgraded Morphic from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, November 17th. Finally, ValuEngine downgraded Morphic from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Morphic presently has a consensus rating of “Buy” and an average target price of $35.00.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in 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. BlackRock Inc. lifted its holdings in shares of Morphic by 1.6% in the third quarter. BlackRock Inc. now owns 924,126 shares of the company’s stock valued at $25,266,000 after buying an additional 14,721 shares during the period. State Street Corp lifted its holdings in shares of Morphic by 2.7% in the third quarter. State Street Corp now owns 227,790 shares of the company’s stock valued at $6,228,000 after buying an additional 6,029 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Morphic in the third quarter valued at $4,954,000. Finally, Alkeon Capital Management LLC lifted its holdings in shares of Morphic by 50.0% in the third quarter. Alkeon Capital Management LLC now owns 150,000 shares of the company’s stock valued at $4,101,000 after buying an additional 50,000 shares during the period. Institutional investors own 59.26% of the company’s stock.

About Morphic

Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, and metabolic diseases, as well as fibrosis and cancer. Its lead product candidates in clinical development are MORF-720, a selective oral avÃ6 specific integrin inhibitor for the treatment of idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC); and MORF-057, a a4Ã7 specific integrin inhibitor for the treatment of inflammatory bowel disease (IBD).

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