Jennison Associates LLC purchased a new stake in Morphic Holding, Inc. (NASDAQ:MORF - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 616,950 shares of the company's stock, valued at approximately $17,818,000. Jennison Associates LLC owned about 1.24% of Morphic at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MORF. Amalgamated Bank lifted its stake in shares of Morphic by 14.0% during the third quarter. Amalgamated Bank now owns 4,859 shares of the company's stock valued at $111,000 after buying an additional 597 shares during the period. Swiss National Bank raised its stake in 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 purchasing an additional 600 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Morphic by 106.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,238 shares of the company's stock worth $28,000 after purchasing an additional 638 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Morphic by 14.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 9,845 shares of the company's stock worth $226,000 after purchasing an additional 1,210 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Morphic by 38.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,182 shares of the company's stock worth $142,000 after purchasing an additional 1,705 shares during the period. 94.25% of the stock is currently owned by institutional investors and hedge funds.
Morphic Price Performance
NASDAQ:MORF traded up $0.09 during trading hours on Friday, reaching $28.07. 529,691 shares of the company were exchanged, compared to its average volume of 505,609. Morphic Holding, Inc. has a 52-week low of $19.34 and a 52-week high of $63.08. The stock has a 50 day simple moving average of $33.33 and a 200 day simple moving average of $29.00. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -8.04 and a beta of 1.42.
Morphic (NASDAQ:MORF - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). On average, analysts predict that Morphic Holding, Inc. will post -3.9 EPS for the current fiscal year.
About Morphic
(
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, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.
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