California State Teachers Retirement System Sells 451 Shares of Morphic Holding, Inc. (NASDAQ:MORF)

California State Teachers Retirement System reduced its holdings in Morphic Holding, Inc. (NASDAQ:MORF) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,195 shares of the company’s stock after selling 451 shares during the quarter. California State Teachers Retirement System owned 0.07% of Morphic worth $1,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in Morphic by 3.8% in the 4th quarter. Legal & General Group Plc now owns 8,472 shares of the company’s stock worth $227,000 after acquiring an additional 309 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Morphic by 3.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,108 shares of the company’s stock worth $324,000 after acquiring an additional 421 shares during the last quarter. Credit Suisse AG increased its stake in Morphic by 5.3% in the 3rd quarter. Credit Suisse AG now owns 13,466 shares of the company’s stock worth $381,000 after acquiring an additional 675 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Morphic in the 4th quarter worth about $25,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Morphic by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 69,380 shares of the company’s stock worth $2,786,000 after purchasing an additional 1,004 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Morphic news, General Counsel William Devaul sold 7,756 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $60.05, for a total value of $465,747.80. Following the completion of the sale, the general counsel now owns 13,338 shares in the company, valued at approximately $800,946.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Morphic news, CEO Praveen P. Tipirneni sold 3,597 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $57.04, for a total value of $205,172.88. Following the completion of the sale, the chief executive officer now owns 13,936 shares in the company, valued at approximately $794,909.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel William Devaul sold 7,756 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $60.05, for a total value of $465,747.80. Following the completion of the sale, the general counsel now owns 13,338 shares of the company’s stock, valued at approximately $800,946.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,790 shares of company stock worth $929,022. 28.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus cut Morphic from a “buy” rating to a “hold” rating and cut their price objective for the stock from $69.00 to $61.00 in a report on Tuesday, August 8th. Berenberg Bank assumed coverage on Morphic in a report on Friday, July 21st. They issued a “buy” rating and a $75.00 price objective for the company. Finally, TheStreet cut Morphic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.43.

Morphic Price Performance

Shares of MORF stock opened at $55.91 on Friday. The stock has a market capitalization of $2.68 billion, a PE ratio of -17.26 and a beta of 1.10. Morphic Holding, Inc. has a 1-year low of $23.03 and a 1-year high of $63.08. The business has a 50-day moving average of $56.01 and a 200 day moving average of $50.84.

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

Morphic 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.