Morphic Holding, Inc. (NASDAQ:MORF) CFO Marc Schegerin Sells 43,936 Shares

Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) CFO Marc Schegerin sold 43,936 shares of Morphic stock in a transaction on Monday, July 8th. The stock was sold at an average price of $55.80, for a total value of $2,451,628.80. Following the transaction, the chief financial officer now directly owns 37,907 shares of the company’s stock, valued at $2,115,210.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Morphic Stock Up 0.1 %

Shares of NASDAQ:MORF opened at $55.74 on Thursday. The company has a market cap of $2.79 billion, a P/E ratio of -15.93 and a beta of 1.50. Morphic Holding, Inc. has a 52 week low of $19.34 and a 52 week high of $62.08. The business has a fifty day simple moving average of $31.56 and a 200-day simple moving average of $31.97.

Morphic (NASDAQ:MORFGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.05. Sell-side analysts expect that Morphic Holding, Inc. will post -4.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Morphic

A number of hedge funds and other institutional investors have recently made changes to their positions in MORF. Point72 Asset Management L.P. grew its position in shares of Morphic by 83.3% in the fourth quarter. Point72 Asset Management L.P. now owns 4,591,000 shares of the company’s stock valued at $132,588,000 after purchasing an additional 2,086,617 shares during the period. Wellington Management Group LLP grew its position in Morphic by 48.5% during the third quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock valued at $78,394,000 after acquiring an additional 1,117,985 shares during the period. Jennison Associates LLC purchased a new stake in Morphic during the fourth quarter valued at about $17,818,000. Price T Rowe Associates Inc. MD grew its position in Morphic by 13.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,523,586 shares of the company’s stock valued at $88,831,000 after acquiring an additional 300,958 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Morphic by 88.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 635,064 shares of the company’s stock valued at $18,341,000 after acquiring an additional 297,567 shares during the period. Hedge funds and other institutional investors own 94.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $57.00 price objective (up from $52.00) on shares of Morphic in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price target (down from $70.00) on shares of Morphic in a report on Tuesday. Finally, TD Cowen reissued a “hold” rating on shares of Morphic in a report on Tuesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Morphic has a consensus rating of “Hold” and an average price target of $53.60.

View Our Latest Research Report on MORF

About Morphic

(Get Free Report)

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.

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