Marc Schegerin Sells 50,000 Shares of Morphic Holding, Inc. (NASDAQ:MORF) Stock

Morphic Holding, Inc. (NASDAQ:MORF – Get Rating) CFO Marc Schegerin sold 50,000 shares of the stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $45.00, for a total value of $2,250,000.00. Following the transaction, the chief financial officer now directly owns 17,074 shares in the company, valued at approximately $768,330. The transaction was disclosed in a filing with the SEC, which is available at this link.

Marc Schegerin also recently made the following trade(s):

• On Saturday, January 14th, Marc Schegerin sold 1,670 shares of Morphic stock. The stock was sold at an average price of $30.63, for a total value of $51,152.10.

Morphic Price Performance

Shares of MORF stock opened at $42.31 on Friday. Morphic Holding, Inc. has a 1-year low of $19.23 and a 1-year high of $49.24. The stock’s 50-day moving average is $35.73 and its 200 day moving average is $30.48. The company has a market cap of $1.67 billion, a P/E ratio of -26.61 and a beta of 1.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. SVB Securities increased their price target on Morphic from $45.00 to $56.00 in a research report on Wednesday. SVB Leerink increased their price target on Morphic from $45.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $65.71.

Institutional Investors Weigh In On Morphic

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new stake in Morphic in the fourth quarter worth about $25,000. Nisa Investment Advisors LLC acquired a new stake in Morphic in the second quarter worth about $28,000. UBS Group AG acquired a new stake in Morphic in the first quarter worth about $54,000. Group One Trading L.P. acquired a new stake in Morphic in the first quarter worth about $56,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Morphic by 1,253.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,274 shares of the company’s stock worth $64,000 after acquiring an additional 2,106 shares in the last quarter. Institutional investors own 79.84% of the company’s stock.

About Morphic

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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.