Praveen P. Tipirneni Sells 21,582 Shares of Morphic Holding, Inc. (NASDAQ:MORF) Stock

Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) CEO Praveen P. Tipirneni sold 21,582 shares of Morphic stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $55.79, for a total transaction of $1,204,059.78. Following the completion of the transaction, the chief executive officer now directly owns 42,460 shares in the company, valued at approximately $2,368,843.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Morphic Stock Up 0.1 %

Shares of MORF stock traded up $0.07 during trading on Wednesday, reaching $55.74. The company’s stock had a trading volume of 7,744,267 shares, compared to its average volume of 1,063,212. The business has a fifty day moving average price of $31.01 and a 200-day moving average price of $31.81. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -15.93 and a beta of 1.50. Morphic Holding, Inc. has a one year low of $19.34 and a one year high of $62.08.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MORF. TD Cowen reaffirmed a “hold” rating on shares of Morphic in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price target (down previously from $70.00) on shares of Morphic in a research note on Tuesday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $57.00 price target (up previously from $52.00) on shares of Morphic in a research note on Tuesday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Morphic has an average rating of “Hold” and an average price target of $53.60.

Read Our Latest Stock Report on MORF

Hedge Funds Weigh In On Morphic

Institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Morphic during the first quarter worth $35,000. China Universal Asset Management Co. Ltd. increased its holdings in Morphic by 364.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company’s stock worth $166,000 after buying an additional 4,515 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Morphic during the first quarter worth $223,000. Arizona State Retirement System acquired a new position in Morphic during the fourth quarter worth $232,000. Finally, DNB Asset Management AS increased its holdings in Morphic by 9.3% during the second quarter. DNB Asset Management AS now owns 7,202 shares of the company’s stock worth $245,000 after buying an additional 614 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors and hedge funds.

About Morphic

(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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