LRI Investments LLC purchased a new position in Morphic Holding, Inc. (NASDAQ:MORF – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the company’s stock, valued at approximately $35,000.
Several other institutional investors have also added to or reduced their stakes in MORF. Perceptive Advisors LLC bought a new stake in shares of Morphic during the 4th quarter valued at $1,646,000. Point72 Asset Management L.P. raised its position 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 period. Rafferty Asset Management LLC raised its position in shares of Morphic by 45.7% during the 4th quarter. Rafferty Asset Management LLC now owns 202,726 shares of the company’s stock valued at $5,855,000 after purchasing an additional 63,634 shares during the period. Federated Hermes Inc. grew its stake in Morphic by 13.1% during the fourth quarter. Federated Hermes Inc. now owns 1,000,000 shares of the company’s stock valued at $28,880,000 after acquiring an additional 115,975 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Morphic during the fourth quarter valued at $2,411,000. 94.25% of the stock is currently owned by institutional investors.
Morphic Price Performance
Shares of NASDAQ:MORF opened at $56.55 on Monday. Morphic Holding, Inc. has a 52 week low of $19.34 and a 52 week high of $62.08. The firm has a fifty day simple moving average of $37.97 and a two-hundred day simple moving average of $34.32.
Morphic (NASDAQ:MORF – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.19). On average, equities research analysts predict that Morphic Holding, Inc. will post -4.07 EPS for the current year.
Insider Buying and Selling
In related news, CFO Marc Schegerin sold 43,936 shares of Morphic stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.80, for a total transaction of $2,451,628.80. Following the completion of the transaction, the chief financial officer now directly owns 37,907 shares of the company’s stock, valued at approximately $2,115,210.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Marc Schegerin sold 43,936 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $55.80, for a total value of $2,451,628.80. Following the completion of the sale, the chief financial officer now owns 37,907 shares of the company’s stock, valued at approximately $2,115,210.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel William Devaul sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $55.79, for a total transaction of $557,900.00. Following the completion of the sale, the general counsel now directly owns 23,029 shares of the company’s stock, valued at approximately $1,284,787.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,790 shares of company stock valued at $7,018,566. Company insiders own 25.60% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on MORF shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $57.00 target price (up from $52.00) on shares of Morphic in a research note on Tuesday, July 9th. TD Cowen reaffirmed a “hold” rating on shares of Morphic in a research note on Tuesday, July 9th. Stifel Nicolaus raised their target price on shares of Morphic from $30.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Morphic in a research note on Friday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.25.
Check Out Our Latest Report on MORF
Morphic Company Profile
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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