Robert E. Farrell, Jr. Sells 30,272 Shares of Morphic Holding, Inc. (NASDAQ:MORF) Stock

Morphic Holding, Inc. (NASDAQ:MORF) CAO Robert E. Farrell, Jr. sold 30,272 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $55.80, for a total transaction of $1,689,177.60. Following the completion of the sale, the chief accounting officer now owns 13,781 shares of the company’s stock, valued at $768,979.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Morphic Price Performance

NASDAQ MORF opened at $55.75 on Friday. The company has a market capitalization of $2.79 billion, a PE ratio of -15.93 and a beta of 1.50. The company has a fifty day moving average of $32.10 and a 200 day moving average of $32.14. Morphic Holding, Inc. has a 1 year low of $19.34 and a 1 year high of $62.08.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MORF. Wellington Management Group LLP lifted its position in Morphic by 48.5% during the third quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock valued at $78,394,000 after purchasing an additional 1,117,985 shares during the period. Vanguard Group Inc. increased its holdings in Morphic by 10.5% in the third quarter. Vanguard Group Inc. now owns 2,107,410 shares of the company’s stock valued at $48,281,000 after buying an additional 200,772 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings 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 buying an additional 4,515 shares in the last quarter. Arizona State Retirement System purchased a new position in Morphic in the fourth quarter valued at $232,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Morphic by 12.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,758 shares of the company’s stock valued at $686,000 after buying an additional 2,546 shares in the last quarter. 94.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MORF has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price objective (down from $70.00) on shares of Morphic in a research note on Tuesday. TD Cowen reiterated a “hold” rating on shares of Morphic in a research note on Tuesday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $57.00 price objective (up 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.60.

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.