William Devaul Sells 10,000 Shares of Morphic Holding, Inc. (NASDAQ:MORF) Stock

Morphic Holding, Inc. (NASDAQ:MORF) General Counsel William Devaul sold 10,000 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $55.79, for a total value of $557,900.00. Following the sale, the general counsel now owns 23,029 shares of the company’s stock, valued at approximately $1,284,787.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Morphic Price Performance

MORF stock opened at $55.75 on Friday. The company has a 50-day moving average of $32.10 and a two-hundred day moving average of $32.14. Morphic Holding, Inc. has a 52-week low of $19.34 and a 52-week high of $62.08. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -15.93 and a beta of 1.50.

Morphic (NASDAQ:MORF) last released its earnings results on Thursday, April 25th. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.05. Equities analysts expect that Morphic Holding, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MORF. BMO Capital Markets reiterated a “market perform” rating and set a $57.00 price objective (up previously from $52.00) on shares of Morphic in a research report on Tuesday. TD Cowen reissued a “hold” rating on shares of Morphic in a research note on Tuesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 target price (down from $70.00) on shares of Morphic in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $53.60.

Institutional Trading of Morphic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LRI Investments LLC bought a new position in Morphic in the first quarter valued at approximately $35,000. China Universal Asset Management Co. Ltd. boosted its stake in Morphic by 364.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company’s stock valued at $166,000 after acquiring an additional 4,515 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Morphic in the first quarter valued at approximately $223,000. DNB Asset Management AS boosted its position in shares of 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 purchasing an additional 614 shares in the last quarter. Finally, Arizona State Retirement System bought a new position in shares of Morphic during the fourth quarter worth $232,000. Institutional investors and hedge funds own 94.25% 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 candidate MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.