Morphic (NASDAQ:MORF) Shares Down 4.4%

Morphic Holding, Inc. (NASDAQ:MORF)’s stock price dropped 4.4% during mid-day trading on Tuesday . The company traded as low as $28.20 and last traded at $28.20. Approximately 126,788 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 505,788 shares. The stock had previously closed at $29.51.

Morphic Stock Up 0.1 %

The stock’s fifty day simple moving average is $34.61 and its 200-day simple moving average is $28.80.

Morphic (NASDAQ:MORF) last released its earnings results on Thursday, February 22nd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). As a group, equities research analysts predict that Morphic Holding, Inc. will post -3.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MORF. 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 worth $132,588,000 after acquiring an additional 2,086,617 shares during the period. 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 worth $78,394,000 after acquiring an additional 1,117,985 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Morphic by 1,719.6% during the 2nd quarter. Alliancebernstein L.P. now owns 1,160,617 shares of the company’s stock worth $66,538,000 after acquiring an additional 1,096,832 shares during the period. State Street Corp lifted its holdings in shares of Morphic by 64.5% during the 2nd quarter. State Street Corp now owns 1,975,806 shares of the company’s stock worth $42,875,000 after acquiring an additional 774,789 shares during the period. Finally, Jennison Associates LLC purchased a new position in Morphic in the fourth quarter valued at approximately $17,818,000. 94.25% of the stock is currently owned by hedge funds and other institutional investors.

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.