Morphic Holding, Inc. (NASDAQ:MORF) President Bruce Rogers Sells 20,000 Shares

Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) President Bruce Rogers sold 20,000 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $55.79, for a total transaction of $1,115,800.00. Following the completion of the sale, the president now directly owns 149,883 shares in the company, valued at approximately $8,361,972.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Morphic Price Performance

Shares of NASDAQ MORF traded up $0.07 during mid-day trading on Wednesday, hitting $55.74. The company’s stock had a trading volume of 7,744,267 shares, compared to its average volume of 1,063,212. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -15.93 and a beta of 1.50. Morphic Holding, Inc. has a one year low of $19.34 and a one year high of $62.08. The company’s fifty day simple moving average is $31.01 and its 200-day simple moving average is $31.81.

Morphic (NASDAQ:MORFGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.05. On average, sell-side analysts predict that Morphic Holding, Inc. will post -4.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MORF shares. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 price objective (down previously from $70.00) on shares of Morphic in a report on Tuesday. BMO Capital Markets reissued a “market perform” rating and set a $57.00 price objective (up previously from $52.00) 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.60.

Get Our Latest Stock Analysis on MORF

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. DNB Asset Management AS boosted its stake in shares of Morphic by 9.3% in the 2nd quarter. DNB Asset Management AS now owns 7,202 shares of the company’s stock valued at $245,000 after purchasing an additional 614 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Morphic by 14.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,167 shares of the company’s stock valued at $604,000 after acquiring an additional 2,216 shares during the period. LRI Investments LLC acquired a new stake in shares of Morphic in the 1st quarter valued at approximately $35,000. Artal Group S.A. raised its position in shares of Morphic by 3.5% in the 1st quarter. Artal Group S.A. now owns 2,213,188 shares of the company’s stock valued at $77,904,000 after acquiring an additional 75,000 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Morphic by 13.5% in the 1st 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. Institutional investors own 94.25% of the company’s stock.

Morphic Company Profile

(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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Insider Buying and Selling by Quarter for Morphic (NASDAQ:MORF)

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