Short Interest in MorphoSys AG (NASDAQ:MOR) Drops By 22.0%

MorphoSys AG (NASDAQ:MOR - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,630,000 shares, a decrease of 22.0% from the March 15th total of 2,090,000 shares. Based on an average daily volume of 2,010,000 shares, the short-interest ratio is currently 0.8 days.

MorphoSys Trading Up 0.1 %

Shares of NASDAQ:MOR traded up $0.01 on Friday, reaching $18.06. 568,476 shares of the company traded hands, compared to its average volume of 340,886. The stock has a market capitalization of $2.72 billion, a P/E ratio of -11.58 and a beta of 1.17. The business's 50-day simple moving average is $17.78 and its 200 day simple moving average is $11.43. The company has a current ratio of 3.08, a quick ratio of 2.84 and a debt-to-equity ratio of 4.98. MorphoSys has a 52 week low of $4.18 and a 52 week high of $18.31.

MorphoSys (NASDAQ:MOR - Get Free Report) last issued its earnings results on Wednesday, March 13th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $1.25. The firm had revenue of $63.53 million for the quarter, compared to analysts' expectations of $76.30 million. MorphoSys had a negative net margin of 80.07% and a negative return on equity of 694.31%. As a group, equities analysts anticipate that MorphoSys will post -2.08 EPS for the current fiscal year.

Hedge Funds Weigh In On MorphoSys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. grew its holdings in MorphoSys by 8,577.2% in the third quarter. Optiver Holding B.V. now owns 144,042 shares of the company's stock worth $968,000 after purchasing an additional 142,382 shares during the period. Exchange Traded Concepts LLC raised its stake in MorphoSys by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,437 shares of the company's stock valued at $173,000 after buying an additional 4,421 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in MorphoSys in the third quarter worth $97,000. Two Sigma Securities LLC purchased a new stake in shares of MorphoSys in the first quarter worth $86,000. Finally, BNP Paribas Arbitrage SNC increased its holdings in shares of MorphoSys by 9,680.0% during the second quarter. BNP Paribas Arbitrage SNC now owns 9,780 shares of the company's stock valued at $73,000 after acquiring an additional 9,680 shares in the last quarter. Institutional investors own 18.38% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MOR. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $18.25 price target (up previously from $17.00) on shares of MorphoSys in a report on Thursday, March 14th. Morgan Stanley reaffirmed an "equal weight" rating on shares of MorphoSys in a report on Friday, January 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.78.

About MorphoSys

MorphoSys AG, together with its subsidiaries, engages in the development and commercialization of therapeutics for patients suffering from various cancers in Europe, Asia, and the United States. The company's product pipeline includes Pelabresib that is in Phase 3 trials to treat myelofibrosis and thrombocythemia; Tulmimetostat, a product candidate in Phase 1/2 trials for the treatment of solid tumors and lymphomas; Felzartamab, an antibody directed against CD38 for renal autoimmune diseases and relapsed/refractory multiple myeloma; Ianalumab, a candidate in Phase 3 clinical trials for Sjögren's disease, lupus nephritis, and other autoimmune diseases; Abelacimab that is in Phase 3 trials for venous thromboembolism prevention and cancer-associated thrombosis; Setrusumab, which is in Phase 2/3 trials for osteogenesis imperfecta; and Bimagrumab, a product candidate in Phase 2b trials for adult obesity.