Morphic Holding, Inc. (NASDAQ:MORF – Get Free Report) Director Joseph P. Slattery purchased 2,400 shares of Morphic stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $20.60 per share, for a total transaction of $49,440.00. Following the completion of the purchase, the director now directly owns 9,066 shares in the company, valued at approximately $186,759.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Morphic Price Performance
MORF stock opened at $23.28 on Thursday. The business’s 50-day moving average is $28.80 and its two-hundred day moving average is $46.90. The firm has a market capitalization of $1.16 billion, a P/E ratio of -7.30 and a beta of 1.35. Morphic Holding, Inc. has a 1 year low of $19.34 and a 1 year high of $63.08.
Analyst Ratings Changes
A number of brokerages have issued reports on MORF. BMO Capital Markets cut their target price on Morphic from $106.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, September 28th. Leerink Partnrs reissued an “outperform” rating on shares of Morphic in a research note on Monday, October 16th. TheStreet downgraded Morphic from a “c-” rating to a “d+” rating in a research report on Wednesday, August 9th. Berenberg Bank assumed coverage on shares of Morphic in a research report on Friday, July 21st. They set a “buy” rating and a $75.00 price target on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Morphic from $61.00 to $33.00 and set a “hold” rating for the company in a report on Monday, September 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Morphic currently has an average rating of “Moderate Buy” and an average target price of $61.71.
Institutional Trading of Morphic
A number of large investors have recently made changes to their positions in MORF. Bank of New York Mellon Corp grew its holdings in Morphic by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 88,123 shares of the company’s stock worth $3,317,000 after acquiring an additional 232 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake 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 in the last quarter. Legal & General Group Plc grew its stake in shares of Morphic by 3.8% during the fourth quarter. Legal & General Group Plc now owns 8,472 shares of the company’s stock worth $227,000 after purchasing an additional 309 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Morphic by 63.4% in the first quarter. Tower Research Capital LLC TRC now owns 951 shares of the company’s stock valued at $36,000 after buying an additional 369 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Morphic by 28.5% in the second quarter. Ameritas Investment Partners Inc. now owns 2,513 shares of the company’s stock valued at $144,000 after buying an additional 557 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
Morphic Company Profile
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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