MorphoSys (NASDAQ:MOR) Shares Gap Down to $3.93

MorphoSys AG (NASDAQ:MOR – Get Rating) shares gapped down before the market opened on Friday . The stock had previously closed at $3.93, but opened at $3.80. MorphoSys shares last traded at $3.78, with a volume of 1,516 shares traded.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley downgraded shares of MorphoSys from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 6th. The Goldman Sachs Group downgraded shares of MorphoSys from a “neutral” rating to a “sell” rating in a research note on Friday, December 16th. JPMorgan Chase & Co. downgraded shares of MorphoSys from a “neutral” rating to an “underweight” rating and set a $2.90 price objective for the company. in a research note on Tuesday, January 3rd. Finally, Citigroup decreased their target price on shares of MorphoSys from €16.00 ($17.20) to €12.00 ($12.90) and set a “sell” rating for the company in a research note on Thursday, December 22nd. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.58.

MorphoSys Stock Down 3.1 %

The firm has a market capitalization of $521.70 million, a PE ratio of -2.59 and a beta of 1.08. The firm’s 50 day moving average price is $4.55 and its two-hundred day moving average price is $4.50.

Institutional Trading of MorphoSys

Several institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. acquired a new stake in MorphoSys in the fourth quarter valued at $26,056,000. Susquehanna International Group LLP acquired a new stake in MorphoSys in the fourth quarter valued at $38,000. Opaleye Management Inc. raised its holdings in shares of MorphoSys by 640.9% during the fourth quarter. Opaleye Management Inc. now owns 896,600 shares of the company’s stock worth $3,210,000 after purchasing an additional 775,585 shares during the period. Optiver Holding B.V. raised its holdings in shares of MorphoSys by 292.8% during the fourth quarter. Optiver Holding B.V. now owns 62,410 shares of the company’s stock worth $223,000 after purchasing an additional 46,523 shares during the period. Finally, TD Asset Management Inc acquired a new stake in shares of MorphoSys during the fourth quarter worth $509,000. 2.05% of the stock is owned by institutional investors and hedge funds.

About MorphoSys

(Get Rating)

MorphoSys AG operates as a commercial-stage biopharmaceutical company. It uses groundbreaking science and technologies to discover, develop, and deliver innovative cancer medicines to patients. The firm also engages in the development and commercialization of therapeutic antibodies for patients suffering from cancer and autoimmune diseases.