Morphic Holding, Inc. (NASDAQ:MORF – Get Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $27.69, but opened at $28.42. Morphic shares last traded at $27.91, with a volume of 128 shares.
Analyst Ratings Changes
Several research firms recently commented on MORF. BMO Capital Markets reiterated a "buy" rating and issued a $83.00 price objective on shares of Morphic in a research report on Friday, August 5th. Stifel Nicolaus assumed coverage on Morphic in a research report on Tuesday. They set a "buy" rating and a $44.00 price target for the company. Wells Fargo & Company reduced their price objective on Morphic from $79.00 to $77.00 and set an "overweight" rating on the stock in a research report on Thursday, August 4th. SVB Leerink initiated coverage on Morphic in a research report on Wednesday, July 20th. They set an "outperform" rating and a $45.00 price objective for the company. Finally, Royal Bank of Canada decreased their price target on shares of Morphic from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 4th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $64.43.
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Morphic Price Performance
The stock has a 50-day simple moving average of $26.94 and a 200-day simple moving average of $30.89. The stock has a market cap of $1.10 billion, a PE ratio of -19.66 and a beta of 1.46.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Virtus ETF Advisers LLC raised its stake in shares of Morphic by 12.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,693 shares of the company's stock valued at $175,000 after acquiring an additional 420 shares during the period. Rhumbline Advisers raised its stake in shares of Morphic by 2.4% during the fourth quarter. Rhumbline Advisers now owns 20,800 shares of the company's stock valued at $986,000 after purchasing an additional 480 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Morphic by 983.3% in the 4th quarter. Point72 Hong Kong Ltd now owns 715 shares of the company's stock worth $34,000 after buying an additional 649 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Morphic by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 69,380 shares of the company's stock worth $2,786,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Silverarc Capital Management LLC boosted its holdings in Morphic by 1.9% in the first quarter. Silverarc Capital Management LLC now owns 68,709 shares of the company's stock valued at $2,759,000 after purchasing an additional 1,269 shares during the last quarter. Hedge funds and other institutional investors own 81.64% of the company's stock.
Morphic Company Profile
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Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, metabolic diseases, as well as fibrosis and cancer. Its lead product candidates are MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation that is in Phase 1 clinical trial for the treatment of inflammatory bowel disease; and preclinical trial to treat idiopathic pulmonary fibrosis and fibrosis diseases.
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