MorphoSys (NASDAQ:MOR) Sees Large Volume Increase

Shares of MorphoSys AG (NASDAQ:MOR) saw strong trading volume on Monday . 370,166 shares changed hands during mid-day trading, an increase of 82% from the previous session’s volume of 202,936 shares.The stock last traded at $5.82 and had previously closed at $5.84.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MOR. Morgan Stanley raised shares of MorphoSys from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $3.70 to $9.20 in a report on Friday, October 13th. The Goldman Sachs Group upgraded shares of MorphoSys from a “sell” rating to a “neutral” rating and upped their price target for the stock from $3.50 to $9.25 in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.49.

MorphoSys Price Performance

The firm has a market capitalization of $807.89 million, a P/E ratio of 14.97 and a beta of 1.04. The company has a fifty day moving average of $7.16 and a 200 day moving average of $7.22. The company has a debt-to-equity ratio of 7.56, a current ratio of 3.57 and a quick ratio of 3.27.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. bought a new position in shares of MorphoSys in the fourth quarter valued at approximately $26,056,000. Logos Global Management LP lifted its stake in MorphoSys by 66.7% during the 1st quarter. Logos Global Management LP now owns 1,500,000 shares of the company’s stock valued at $5,940,000 after acquiring an additional 600,000 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in MorphoSys during the 2nd quarter worth $1,634,000. Marshall Wace LLP bought a new stake in shares of MorphoSys in the 2nd quarter worth $1,468,000. Finally, Tekla Capital Management LLC grew its stake in shares of MorphoSys by 116.4% in the 2nd quarter. Tekla Capital Management LLC now owns 177,191 shares of the company’s stock worth $1,324,000 after acquiring an additional 95,324 shares in the last quarter.

About MorphoSys

MorphoSys AG, a commercial-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutic antibodies for patients suffering from cancer and autoimmune diseases in the United States. It offers Tafasitamab, an antibody for the treatment of B cell malignancies, including diffuse large B-cell lymphoma, follicular lymphoma, and marginal zone lymphoma.