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Morphic (MORF) Reaffirmed as Hold at TD Cowen

Morphic (MORF) Reaffirmed as Hold at TD Cowen

Morphic (NASDAQ:MORFGet a Free Report)Equities researchers at TD Cowen reiterated a “hold” rating on the stock in a research note issued on Tuesday. Benzinga reports.

MORF has been the subject of several other research reports. Royal Bank of Canada reiterated a “sector perform” rating on shares of Morphic and issued a price target of $57.00 (down from the previous $70.00) in a research note on Tuesday. BMO Capital Markets reiterated a “market perform” rating on shares of Morphic and issued a price target of $57.00 (up from $52.00) in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The average rating on the stock is currently a “Hold” and the average price target is $53.60, according to data from MarketBeat.com.

Get Our Latest Report on MORF

Morphic Trading Up 0.1%

Shares NASDAQ:MORF It opened at $55.74 on Tuesday. The company’s 50-day moving average is $31.56 and its two-hundred-day moving average is $31.97. Morphic has a 52-week low of $19.34 and a 52-week high of $62.08. The company has a market cap of $2.79 billion, a P/E ratio of -15.93 and a beta of 1.50.

Morphic (NASDAQ:MORFGet a Free Report) announced its latest quarterly earnings results on Thursday, April 25. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.05. Analysts are projecting that Morphic will report -4.07 EPS for the current year.

Insider Event

In related news, the President Bruce Rogers He sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold for an average price of $55.79, for a total transaction of $1,115,800.00. Following the completion of the sale, the chairman now directly owns 149,883 shares of the company, valued at $8,361,972.57. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be found at: this linkIn other news, the President Bruce Rogers He sold 20,000 shares of the company’s 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 $1,115,800.00. Following the transaction, the chairman now directly owns 149,883 shares of the company, valued at approximately $8,361,972.57. The transaction was disclosed in a filing with the SEC, which can be found at: this hypertextIn addition, the CFO Marc Schegerin He sold 43,936 shares of the company’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 $2,451,628.80. Following the transaction, the chief financial officer now owns 37,907 shares in the company, valued at $2,115,210.60. A disclosure regarding this sale can be found at: Here. Company insiders sold 125,790 shares of company stock worth $7,018,566 in the last three months. Company insiders own 25.60% of the company’s stock.

Institutional Investors Share Their Views on Morphic

A number of large investors have recently bought and sold shares of MORF. LRI Investments LLC purchased a new position in Morphic in the 1st quarter worth $35,000. China Universal Asset Management Co. Ltd. increased its position in Morphic by 364.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company worth $166,000 after purchasing an additional 4,515 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Morphic in the 1st quarter worth $223,000. Arizona State Retirement System purchased a new position in Morphic in the 4th quarter worth $232,000. Finally, DNB Asset Management AS increased its position in Morphic by 9.3% in the 2nd quarter. DNB Asset Management AS now owns 7,202 shares of the company worth US$245,000 after purchasing an additional 614 shares during the last quarter. 94.25% of the shares are currently in the hands of institutional investors.

About Morphic

(Get a 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, is an α4ß7-specific integrin inhibitor that affects inflammation and is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.

Further reading

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