Morphic Holding, Inc. (NASDAQ:MORF) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Morphic Holding, Inc. (NASDAQ:MORF) by 22.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,374 shares of the company’s stock after acquiring an additional 27,480 shares during the period. Bank of New York Mellon Corp owned approximately 0.30% of Morphic worth $5,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. American International Group Inc. grew its holdings in Morphic by 2.9% in the first quarter. American International Group Inc. now owns 18,797 shares of the company’s stock valued at $662,000 after purchasing an additional 533 shares during the last quarter. DNB Asset Management AS grew its holdings in Morphic by 9.3% in the second quarter. DNB Asset Management AS now owns 7,202 shares of the company’s stock valued at $245,000 after purchasing an additional 614 shares during the last quarter. LRI Investments LLC acquired a new stake in Morphic in the first quarter valued at $35,000. ProShare Advisors LLC grew its holdings in Morphic by 11.9% in the first quarter. ProShare Advisors LLC now owns 10,359 shares of the company’s stock valued at $365,000 after purchasing an additional 1,099 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Morphic by 12.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,045 shares of the company’s stock valued at $416,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 94.25% of the company’s stock.

Analysts Set New Price Targets

MORF has been the topic of several research reports. BMO Capital Markets reissued a “market perform” rating and issued a $57.00 target price (up previously from $52.00) on shares of Morphic in a report on Tuesday, July 9th. Stifel Nicolaus upped their price objective on Morphic from $30.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. TD Cowen restated a “hold” rating on shares of Morphic in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 price objective on shares of Morphic in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.25.

Morphic Stock Performance

NASDAQ MORF opened at $56.99 on Friday. The business’s 50-day moving average price is $56.71 and its 200 day moving average price is $40.07. Morphic Holding, Inc. has a twelve month low of $19.34 and a twelve month high of $57.00. The company has a market capitalization of $2.85 billion, a PE ratio of -16.28 and a beta of 1.49.

Morphic (NASDAQ:MORF) last released its earnings results on Thursday, July 25th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.19). Equities analysts predict that Morphic Holding, Inc. will post -4.07 EPS for the current year.

Insider Buying and Selling

In related news, CFO Marc Schegerin sold 43,936 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $55.80, for a total transaction of $2,451,628.80. Following the transaction, the chief financial officer now directly owns 37,907 shares in the company, valued at $2,115,210.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Marc Schegerin sold 43,936 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $55.80, for a total value of $2,451,628.80. Following the transaction, the chief financial officer now directly owns 37,907 shares in the company, valued at approximately $2,115,210.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Robert E. Farrell, Jr. sold 30,272 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $55.80, for a total value of $1,689,177.60. Following the completion of the transaction, the chief accounting officer now owns 13,781 shares in the company, valued at $768,979.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,790 shares of company stock worth $7,018,566. 25.60% of the stock is owned by company insiders.

Morphic 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.