State Board of Administration of Florida Retirement System Sells 7,150 Shares of Morphic Holding, Inc. (NASDAQ:MORF)

State Board of Administration of Florida Retirement System lessened its position in shares of Morphic Holding, Inc. (NASDAQ:MORF – Get Rating) by 39.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,045 shares of the company’s stock after selling 7,150 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Morphic were worth $295,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. UBS Group AG bought a new stake in shares of Morphic in the first quarter valued at approximately $54,000. Group One Trading L.P. bought a new stake in shares of Morphic in the first quarter valued at approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Morphic by 1,253.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,274 shares of the company’s stock valued at $64,000 after buying an additional 2,106 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Morphic in the third quarter valued at approximately $69,000. Finally, Point72 Hong Kong Ltd acquired a new position in Morphic during the third quarter valued at approximately $79,000. 79.84% of the stock is currently owned by institutional investors.

Morphic Price Performance

MORF stock opened at $56.97 on Monday. The stock has a market capitalization of $2.26 billion, a PE ratio of -34.74 and a beta of 1.16. The company’s 50-day moving average is $44.57 and its 200-day moving average is $36.33. Morphic Holding, Inc. has a 1 year low of $19.23 and a 1 year high of $59.54.

Morphic (NASDAQ:MORF – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.21. The company had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $2.83 million. Morphic had a negative net margin of 92.38% and a negative return on equity of 16.67%. On average, analysts anticipate that Morphic Holding, Inc. will post -3.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada boosted their price objective on shares of Morphic from $75.00 to $80.00 in a research report on Wednesday, April 26th. SVB Leerink boosted their price objective on shares of Morphic from $45.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. SVB Securities upped their price target on shares of Morphic from $45.00 to $56.00 in a report on Wednesday, March 8th. TheStreet upgraded shares of Morphic from a “d+” rating to a “c” rating in a report on Monday, May 8th. Finally, Wells Fargo & Company upped their price target on shares of Morphic from $67.00 to $80.00 in a report on Tuesday, April 25th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $70.33.

Insider Transactions at Morphic

In related news, President Bruce Rogers sold 10,000 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $40.35, for a total value of $403,500.00. Following the sale, the president now owns 117,055 shares in the company, valued at approximately $4,723,169.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Bruce Rogers sold 10,000 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $40.35, for a total value of $403,500.00. Following the sale, the president now owns 117,055 shares in the company, valued at approximately $4,723,169.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy A. Springer bought 1,050,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average price of $45.00 per share, for a total transaction of $47,250,000.00. Following the acquisition, the director now directly owns 2,768,464 shares in the company, valued at $124,580,880. The disclosure for this purchase can be found here. Insiders have sold 208,776 shares of company stock valued at $10,341,501 in the last 90 days. 28.10% of the stock is currently owned by corporate insiders.

Morphic Profile

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Morphic Holding, Inc operates as a biopharmaceutical company, which engages in the research and development of oral small-molecule integrin therapeutics. It operates a Morphic integrin technology platform, MInT platform, to create a broad pipeline of programs across a variety of therapeutic areas. The company was founded by Timothy A.