Morphic Holding, Inc. (NASDAQ:MORF) General Counsel William Devaul Sells 10,000 Shares

Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) General Counsel William Devaul sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.79, for a total transaction of $557,900.00. Following the completion of the transaction, the general counsel now directly owns 23,029 shares in the company, valued at approximately $1,284,787.91. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Morphic Stock Performance

MORF traded up $0.07 during trading on Wednesday, reaching $55.74. 7,744,267 shares of the stock were exchanged, compared to its average volume of 1,063,212. The stock 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 twelve month low of $19.34 and a twelve month high of $62.08. The stock’s 50 day moving average price is $31.01 and its two-hundred day moving average price 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 for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.05. Equities research analysts predict that Morphic Holding, Inc. will post -4.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Morphic

A number of institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Morphic during the first quarter worth $35,000. China Universal Asset Management Co. Ltd. boosted its position in Morphic by 364.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company’s stock worth $166,000 after purchasing an additional 4,515 shares during the period. Capstone Investment Advisors LLC bought a new position in Morphic during the first quarter worth $223,000. Arizona State Retirement System bought a new position in Morphic during the fourth quarter worth $232,000. Finally, DNB Asset Management AS boosted its position in Morphic by 9.3% during the second quarter. DNB Asset Management AS now owns 7,202 shares of the company’s stock worth $245,000 after purchasing an additional 614 shares during the period. 94.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on MORF shares. TD Cowen reissued a “hold” rating on shares of Morphic in a research note on Tuesday. BMO Capital Markets reiterated a “market perform” rating and issued a $57.00 price objective (up from $52.00) on shares of Morphic in a report on Tuesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price objective (down from $70.00) 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $53.60.

Check Out Our Latest Stock Report on Morphic

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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