Morphic Holding, Inc. (NASDAQ:MORF) CAO Sells $239,771.84 in Stock


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Morphic Holding, Inc. (NASDAQ:MORF) CAO Robert E. Farrell, Jr. sold 7,364 shares of the firm’s stock in a transaction dated Wednesday, December 30th. The shares were sold at an average price of $32.56, for a total transaction of $239,771.84. Following the transaction, the chief accounting officer now owns 35,703 shares of the company’s stock, valued at $1,162,489.68. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of Morphic stock opened at $33.55 on Friday. Morphic Holding, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $36.65. The business’s fifty day moving average is $31.89 and its two-hundred day moving average is $27.67. The firm has a market cap of $1.04 billion, a PE ratio of -21.51 and a beta of 1.01.

Morphic (NASDAQ:MORF) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.60. The business had revenue of $25.76 million during the quarter, compared to analysts’ expectations of $7.70 million. On average, analysts forecast that Morphic Holding, Inc. will post -1.28 EPS for the current fiscal year.

MORF has been the subject of a number of recent research reports. Royal Bank of Canada initiated coverage on shares of Morphic in a research note on Monday, October 26th. They set an “outperform” rating and a $35.00 price objective for the company. ValuEngine downgraded Morphic from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. Finally, Zacks Investment Research upgraded Morphic from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, November 17th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Morphic presently has a consensus rating of “Buy” and a consensus price target of $35.00.

A number of institutional investors and hedge funds have recently bought and sold shares of MORF. Bank of Montreal Can lifted its holdings in shares of Morphic by 8,338.5% during the 2nd quarter. Bank of Montreal Can now owns 1,097 shares of the company’s stock worth $28,000 after acquiring an additional 1,084 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Morphic by 208.0% in the third quarter. BNP Paribas Arbitrage SA now owns 3,638 shares of the company’s stock valued at $99,000 after purchasing an additional 2,457 shares during the period. JPMorgan Chase & Co. increased its position in Morphic by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 5,105 shares of the company’s stock worth $140,000 after purchasing an additional 487 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Morphic by 32.1% in the 2nd quarter. American International Group Inc. now owns 8,375 shares of the company’s stock valued at $227,000 after purchasing an additional 2,033 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Morphic by 33.1% in the 2nd quarter. Bank of America Corp DE now owns 9,236 shares of the company’s stock valued at $250,000 after purchasing an additional 2,296 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

About Morphic

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 candidates in clinical development are MORF-720, a selective oral avÃ6 specific integrin inhibitor for the treatment of idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC); and MORF-057, a a4Ã7 specific integrin inhibitor for the treatment of inflammatory bowel disease (IBD).

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