Morphic (NASDAQ:MORF) Stock Price Down 4.4%

Shares of Morphic Holding, Inc. (NASDAQ:MORF - Get Free Report) fell 4.4% on Tuesday . The company traded as low as $28.20 and last traded at $28.20. 126,788 shares changed hands during trading, a decline of 75% from the average session volume of 505,788 shares. The stock had previously closed at $29.51.

Morphic Stock Down 5.6 %

The company has a market cap of $1.39 billion, a P/E ratio of -7.98 and a beta of 1.42. The business has a 50-day moving average price of $34.79 and a two-hundred day moving average price of $28.81.

Morphic (NASDAQ:MORF - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.05). As a group, sell-side analysts expect that Morphic Holding, Inc. will post -3.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Morphic

A number of institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its stake in Morphic by 77.2% in the third quarter. Assenagon Asset Management S.A. now owns 118,297 shares of the company's stock valued at $2,710,000 after acquiring an additional 51,521 shares during the period. TD Asset Management Inc boosted its position in shares of Morphic by 38.5% during the third quarter. TD Asset Management Inc now owns 93,112 shares of the company's stock worth $2,133,000 after buying an additional 25,895 shares during the period. Swiss National Bank boosted its position in shares of Morphic by 1.0% during the third quarter. Swiss National Bank now owns 59,400 shares of the company's stock worth $1,361,000 after buying an additional 600 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Morphic during the third quarter worth about $321,000. Finally, MPM Bioimpact LLC acquired a new position in shares of Morphic during the third quarter worth about $4,582,000. 94.25% of the stock is owned by institutional investors and hedge funds.

About Morphic

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.