Praveen P. Tipirneni Sells 4,027 Shares of Morphic Holding, Inc. (NASDAQ:MORF) Stock

Morphic Holding, Inc. (NASDAQ:MORF – Get Rating) CEO Praveen P. Tipirneni sold 4,027 shares of the business’s stock in a transaction dated Saturday, January 14th. The shares were sold at an average price of $30.63, for a total value of $123,347.01. Following the completion of the sale, the chief executive officer now directly owns 12,679 shares of the company’s stock, valued at approximately $388,357.77. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Morphic Price Performance

MORF opened at $29.76 on Friday. The business has a 50 day simple moving average of $27.57 and a two-hundred day simple moving average of $27.69. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -19.58 and a beta of 1.21. Morphic Holding, Inc. has a one year low of $19.23 and a one year high of $47.66.

Morphic (NASDAQ:MORF – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.02. The business had revenue of $2.06 million during the quarter, compared to analyst estimates of $3.83 million. Morphic had a negative return on equity of 15.98% and a negative net margin of 75.53%. As a group, sell-side analysts expect that Morphic Holding, Inc. will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Morphic by 3.1% in the 2nd quarter. FMR LLC now owns 5,740,325 shares of the company’s stock worth $124,565,000 after acquiring an additional 174,690 shares in the last quarter. State Street Corp raised its position in shares of Morphic by 64.5% in the 2nd quarter. State Street Corp now owns 1,975,806 shares of the company’s stock worth $42,875,000 after acquiring an additional 774,789 shares in the last quarter. BlackRock Inc. raised its position in shares of Morphic by 1.7% in the 3rd quarter. BlackRock Inc. now owns 1,946,297 shares of the company’s stock worth $55,079,000 after acquiring an additional 33,439 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Morphic by 9.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,451,707 shares of the company’s stock worth $41,084,000 after acquiring an additional 124,861 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Morphic by 113.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,315,300 shares of the company’s stock worth $28,542,000 after acquiring an additional 697,866 shares in the last quarter. Institutional investors own 79.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Morphic from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd. Wells Fargo & Company boosted their target price on Morphic from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, November 8th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Morphic presently has a consensus rating of “Buy” and an average price target of $65.29.

About Morphic

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Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, metabolic diseases, as well as fibrosis and cancer. Its lead product candidates are MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation that is in Phase 1 clinical trial for the treatment of inflammatory bowel disease; and preclinical trial to treat idiopathic pulmonary fibrosis and fibrosis diseases.