Morphic Holding, Inc. (NASDAQ:MORF) President Sells $1,115,800.00 in Stock

Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) President Bruce Rogers sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $55.79, for a total transaction of $1,115,800.00. Following the sale, the president now directly owns 149,883 shares of the company’s stock, valued at $8,361,972.57. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Morphic Stock Performance

Shares of Morphic stock traded up $0.07 during trading hours on Wednesday, reaching $55.74. The company’s stock had a trading volume of 7,744,267 shares, compared to its average volume of 1,063,212. The company’s 50 day simple moving average is $31.01 and its 200 day simple moving average is $31.81. Morphic Holding, Inc. has a one year low of $19.34 and a one year high of $62.08. The stock has a market cap of $2.79 billion, a P/E ratio of -15.93 and a beta of 1.50.

Morphic (NASDAQ:MORFGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.05. On average, sell-side analysts predict that Morphic Holding, Inc. will post -4.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MORF has been the topic of a number of research analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $57.00 price objective (up from $52.00) on shares of Morphic in a research note on Tuesday. TD Cowen reiterated a “hold” rating on shares of Morphic in a research note on Tuesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price objective (down from $70.00) on shares of Morphic in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.60.

Get Our Latest Analysis on MORF

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Point72 Asset Management L.P. lifted its position in shares of Morphic by 83.3% in the 4th quarter. Point72 Asset Management L.P. now owns 4,591,000 shares of the company’s stock worth $132,588,000 after buying an additional 2,086,617 shares during the last quarter. Wellington Management Group LLP boosted its stake in Morphic by 48.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock valued at $78,394,000 after purchasing an additional 1,117,985 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Morphic by 13.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,523,586 shares of the company’s stock valued at $88,831,000 after purchasing an additional 300,958 shares during the period. Artal Group S.A. boosted its stake in Morphic by 3.5% during the 1st quarter. Artal Group S.A. now owns 2,213,188 shares of the company’s stock valued at $77,904,000 after purchasing an additional 75,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Morphic by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,107,410 shares of the company’s stock valued at $48,281,000 after purchasing an additional 200,772 shares during the period. 94.25% of the stock is currently owned by institutional investors.

Morphic Company Profile

(Get Free Report)

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 candidate MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.

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Insider Buying and Selling by Quarter for Morphic (NASDAQ:MORF)

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