Morphic Holding, Inc. (NASDAQ:MORF) CFO Sells $1,086,800.00 in Stock

Morphic Holding, Inc. (NASDAQ:MORF) CFO Marc Schegerin sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $54.34, for a total transaction of $1,086,800.00. Following the transaction, the chief financial officer now directly owns 24,136 shares in the company, valued at $1,311,550.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Morphic Stock Performance

Shares of Morphic stock opened at $54.42 on Friday. Morphic Holding, Inc. has a fifty-two week low of $23.03 and a fifty-two week high of $63.08. The company’s 50 day moving average price is $55.83 and its two-hundred day moving average price is $51.31.

Morphic (NASDAQ:MORF) last issued its earnings results on Thursday, August 3rd. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.02). Morphic had a negative net margin of 92.38% and a negative return on equity of 27.71%. On average, research analysts anticipate that Morphic Holding, Inc. will post -3.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on MORF. TheStreet cut shares of Morphic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. Berenberg Bank began coverage on shares of Morphic in a report on Friday, July 21st. They set a “buy” rating and a $75.00 target price on the stock. Finally, Stifel Nicolaus cut shares of Morphic from a “buy” rating to a “hold” rating and lowered their target price for the stock from $69.00 to $61.00 in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.43.

Institutional Trading of Morphic

Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new position in shares of Morphic during the fourth quarter worth $25,000. Tower Research Capital LLC TRC lifted its holdings in shares of Morphic by 63.4% during the first quarter. Tower Research Capital LLC TRC now owns 951 shares of the company’s stock worth $36,000 after purchasing an additional 369 shares during the period. UBS Group AG acquired a new position in shares of Morphic during the first quarter worth $54,000. Group One Trading L.P. acquired a new position in shares of Morphic during the first quarter worth $56,000. Finally, Metropolitan Life Insurance Co NY lifted its holdings in shares of Morphic by 20.5% during the second quarter. Metropolitan Life Insurance Co NY now owns 1,663 shares of the company’s stock worth $95,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 80.66% 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 candidate MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.