Morphic (NASDAQ:MORF) Shares Up 11.4%

Morphic Holding, Inc. (NASDAQ:MORFGet Rating) traded up 11.4% during mid-day trading on Friday . The stock traded as high as $22.71 and last traded at $22.62. 11,355 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 293,027 shares. The stock had previously closed at $20.30.

A number of research firms have weighed in on MORF. Canaccord Genuity Group began coverage on Morphic in a research note on Thursday, March 31st. They issued a “buy” rating and a $68.00 price target on the stock. BMO Capital Markets cut their price target on Morphic from $102.00 to $83.00 in a research note on Monday, February 28th. Canaccord Genuity Group began coverage on Morphic in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada cut their target price on Morphic from $82.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Morphic has an average rating of “Buy” and a consensus price target of $74.40.

The stock has a 50-day moving average price of $27.83 and a 200 day moving average price of $37.93.

Morphic (NASDAQ:MORFGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.04). Morphic had a negative return on equity of 31.37% and a negative net margin of 559.19%. Research analysts expect that Morphic Holding, Inc. will post -3.46 earnings per share for the current fiscal year.

In related news, insider Bruce Rogers sold 10,000 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $41.03, for a total transaction of $410,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 31.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtus ETF Advisers LLC boosted its holdings in Morphic by 12.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,693 shares of the company’s stock valued at $175,000 after purchasing an additional 420 shares in the last quarter. Rhumbline Advisers boosted its holdings in Morphic by 2.4% in the 4th quarter. Rhumbline Advisers now owns 20,800 shares of the company’s stock valued at $986,000 after purchasing an additional 480 shares in the last quarter. Point72 Hong Kong Ltd boosted its holdings in Morphic by 983.3% in the 4th quarter. Point72 Hong Kong Ltd now owns 715 shares of the company’s stock valued at $34,000 after purchasing an additional 649 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Morphic by 3.5% in the 4th quarter. California State Teachers Retirement System now owns 26,908 shares of the company’s stock valued at $1,275,000 after purchasing an additional 900 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in Morphic by 4.8% in the 4th quarter. Susquehanna International Group LLP now owns 20,344 shares of the company’s stock valued at $964,000 after purchasing an additional 934 shares in the last quarter. 72.87% of the stock is currently owned by institutional investors.

Morphic Company Profile (NASDAQ:MORF)

Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, metabolic diseases, as well as fibrosis and cancer. Its lead product candidates are MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation that is in Phase 1 clinical trial for the treatment of inflammatory bowel disease; and preclinical trial to treat idiopathic pulmonary fibrosis and fibrosis diseases.

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