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 business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.79, for a total value of $557,900.00. Following the sale, the general counsel now directly owns 23,029 shares of the company’s stock, valued at approximately $1,284,787.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Morphic Price Performance

Shares of MORF traded up $0.07 during mid-day trading on Wednesday, reaching $55.74. 7,744,267 shares of the company’s stock traded hands, compared to its average volume of 1,063,212. Morphic Holding, Inc. has a 12 month low of $19.34 and a 12 month high of $62.08. The stock has a market cap of $2.79 billion, a P/E ratio of -15.93 and a beta of 1.50. The stock’s 50-day moving average is $31.01 and its two-hundred day moving average is $31.81.

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

Institutional Trading of Morphic

A number of hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. lifted its holdings in shares of Morphic by 83.3% during the 4th 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 last quarter. Wellington Management Group LLP lifted its holdings in shares of Morphic by 48.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock valued at $78,394,000 after purchasing an additional 1,117,985 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Morphic by 13.5% during 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 purchasing an additional 300,958 shares during the last quarter. Artal Group S.A. lifted its holdings in shares of Morphic by 3.5% during the 1st quarter. Artal Group S.A. now owns 2,213,188 shares of the company’s stock valued at $77,904,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Morphic by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,107,410 shares of the company’s stock valued at $48,281,000 after purchasing an additional 200,772 shares during the last quarter. Hedge funds and other institutional investors own 94.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 price target (down previously from $70.00) on shares of Morphic in a report on Tuesday. TD Cowen reiterated a “hold” rating on shares of Morphic in a research report on Tuesday. Finally, BMO Capital Markets reissued a “market perform” rating and set a $57.00 price objective (up from $52.00) on shares of Morphic in a research note on Tuesday. Five research 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 stock has an average rating of “Hold” and a consensus price target of $53.60.

Get Our Latest Stock Analysis on MORF

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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