Robert E. Farrell, Jr. Sells 30,272 Shares of Morphic Holding, Inc. (NASDAQ:MORF) Stock

Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) CAO Robert E. Farrell, Jr. sold 30,272 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.80, for a total transaction of $1,689,177.60. Following the transaction, the chief accounting officer now owns 13,781 shares in the company, valued at approximately $768,979.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Morphic Trading Up 0.1 %

Morphic stock traded up $0.07 during midday trading on Wednesday, hitting $55.74. The stock had a trading volume of 7,744,267 shares, compared to its average volume of 1,063,212. The firm’s fifty day moving average is $31.01 and its two-hundred day moving average is $31.81. The company has a market capitalization of $2.79 billion, a PE 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.

Morphic (NASDAQ:MORFGet Free Report) last released its earnings results 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. As a group, equities research analysts predict that Morphic Holding, Inc. will post -4.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Morphic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Morphic in the 1st quarter worth approximately $35,000. China Universal Asset Management Co. Ltd. increased its holdings in Morphic by 364.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company’s stock worth $166,000 after acquiring an additional 4,515 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Morphic during the 1st quarter valued at approximately $223,000. Arizona State Retirement System purchased a new stake in Morphic during the 4th quarter valued at approximately $232,000. Finally, DNB Asset Management AS grew its holdings in Morphic by 9.3% during the 2nd quarter. DNB Asset Management AS now owns 7,202 shares of the company’s stock valued at $245,000 after buying an additional 614 shares in the last quarter. 94.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MORF has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 target price (down previously from $70.00) on shares of Morphic in a research note on Tuesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $57.00 price target (up previously from $52.00) on shares of Morphic in a research report on Tuesday. Finally, TD Cowen reaffirmed a “hold” rating on shares of Morphic in a research report on Tuesday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.60.

View Our Latest Research Report on Morphic

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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