Morphic Holding, Inc. (NASDAQ:MORF) Sees Significant Increase in Short Interest

Morphic Holding, Inc. (NASDAQ:MORF) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 6,540,000 shares, an increase of 20.4% from the October 15th total of 5,430,000 shares. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 6.1 days.

Morphic Stock Up 2.4 %

Shares of NASDAQ:MORF opened at $23.28 on Thursday. The firm has a fifty day moving average of $28.80 and a two-hundred day moving average of $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 has a 12-month low of $19.34 and a 12-month high of $63.08.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BTIG Research lowered shares of Morphic from a “buy” rating to a “neutral” rating in a research report on Monday, September 25th. Stifel Nicolaus lowered their price objective on shares of Morphic from $61.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, September 25th. BMO Capital Markets lowered their price objective on shares of Morphic from $106.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, September 28th. Berenberg Bank started coverage on shares of Morphic in a research report on Friday, July 21st. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Morphic in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.71.

Insider Buying and Selling

In related news, CFO Marc Schegerin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $54.34, for a total transaction of $1,086,800.00. Following the sale, the chief financial officer now owns 24,136 shares of the company’s stock, valued at $1,311,550.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Morphic news, Director Joseph P. Slattery purchased 2,400 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $20.60 per share, for a total transaction of $49,440.00. Following the completion of the transaction, the director now owns 9,066 shares in the company, valued at approximately $186,759.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marc Schegerin sold 20,000 shares of Morphic stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $54.34, for a total transaction of $1,086,800.00. Following the completion of the transaction, the chief financial officer now owns 24,136 shares in the company, valued at approximately $1,311,550.24. The disclosure for this sale can be found here. 28.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Morphic

Institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. acquired a new stake in shares of Morphic during the 4th quarter valued at $25,000. Tower Research Capital LLC TRC lifted its stake in shares of Morphic by 63.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 951 shares of the company’s stock valued at $36,000 after purchasing an additional 369 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Morphic by 106.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 638 shares during the last quarter. UBS Group AG acquired a new stake in shares of Morphic in the 1st quarter valued at $54,000. Finally, Group One Trading L.P. acquired a new stake in shares of Morphic in the 1st quarter valued at $56,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.