Morphic (NASDAQ:MORF) Stock Price Down 5.9%

Morphic Holding, Inc. (NASDAQ:MORF - Get Free Report) shares were down 5.9% during trading on Monday . The company traded as low as $32.69 and last traded at $33.12. Approximately 171,827 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 522,853 shares. The stock had previously closed at $35.20.

Wall Street Analysts Forecast Growth

Separately, Citigroup started coverage on shares of Morphic in a research note on Friday, December 8th. They issued a "buy" rating and a $46.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.00.

Morphic Trading Down 6.5 %

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -9.43 and a beta of 1.42. The stock's 50 day moving average is $35.14 and its 200 day moving average is $29.52.

Morphic (NASDAQ:MORF - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.05). On average, equities research analysts predict that Morphic Holding, Inc. will post -3.9 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Marc Schegerin sold 6,041 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $27.49, for a total transaction of $166,067.09. Following the sale, the chief financial officer now owns 37,460 shares in the company, valued at approximately $1,029,775.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Marc Schegerin sold 6,041 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $27.49, for a total transaction of $166,067.09. Following the sale, the chief financial officer now owns 37,460 shares in the company, valued at approximately $1,029,775.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel William Devaul sold 4,509 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $27.49, for a total transaction of $123,952.41. Following the sale, the general counsel now owns 23,029 shares in the company, valued at approximately $633,067.21. The disclosure for this sale can be found here. Insiders have sold a total of 35,876 shares of company stock worth $986,231 in the last quarter. Corporate insiders own 28.10% of the company's stock.

Institutional Trading of Morphic

Several large investors have recently made changes to their positions in MORF. JPMorgan Chase & Co. lifted its stake in Morphic by 23.1% in the 1st quarter. JPMorgan Chase & Co. now owns 20,348 shares of the company's stock valued at $816,000 after purchasing an additional 3,825 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Morphic by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 69,380 shares of the company's stock worth $2,786,000 after buying an additional 1,004 shares during the period. Group One Trading L.P. acquired a new stake in shares of Morphic during the first quarter worth $56,000. MetLife Investment Management LLC increased its position in shares of Morphic by 58.5% during the first quarter. MetLife Investment Management LLC now owns 12,168 shares of the company's stock worth $489,000 after buying an additional 4,491 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Morphic by 5.1% during the first quarter. Rhumbline Advisers now owns 21,859 shares of the company's stock worth $878,000 after buying an additional 1,059 shares during the period. Institutional investors and hedge funds own 94.25% of the company's stock.

Morphic Company 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.