Morphic (NASDAQ:MORF) Stock Price Down 3.6%

Morphic Holding, Inc. (NASDAQ:MORF) shares dropped 3.6% during mid-day trading on Wednesday . The company traded as low as $32.14 and last traded at $32.31. Approximately 114,053 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 507,524 shares. The stock had previously closed at $33.52.

Morphic Price Performance

The stock’s 50-day moving average is $29.27 and its 200-day moving average is $31.23.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MORF. LRI Investments LLC acquired a new stake in Morphic in the 1st quarter valued at about $35,000. China Universal Asset Management Co. Ltd. lifted its stake 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 valued at $166,000 after purchasing an additional 4,515 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Morphic in the first quarter worth approximately $223,000. Arizona State Retirement System bought a new position in shares of Morphic in the fourth quarter valued at $232,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Morphic during the 4th quarter valued at $271,000. Institutional investors 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.