Morphic (NASDAQ:MORF) Sees Strong Trading Volume

Morphic Holding, Inc. (NASDAQ:MORF - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 578,067 shares were traded during mid-day trading, an increase of 18% from the previous session's volume of 488,579 shares.The stock last traded at $30.11 and had previously closed at $30.23.

Morphic Stock Performance

The business has a fifty day simple moving average of $31.01 and a 200 day simple moving average of $29.83. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -9.27 and a beta of 1.48.

Morphic (NASDAQ:MORF - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.05. On average, equities research analysts anticipate that Morphic Holding, Inc. will post -4.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Morphic

Several hedge funds have recently modified their holdings of MORF. Federated Hermes Inc. raised its position in shares of Morphic by 13.1% in the fourth quarter. Federated Hermes Inc. now owns 1,000,000 shares of the company's stock valued at $28,880,000 after buying an additional 115,975 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Morphic by 77.2% during the third quarter. Assenagon Asset Management S.A. now owns 118,297 shares of the company's stock worth $2,710,000 after purchasing an additional 51,521 shares during the last quarter. TD Asset Management Inc grew its position in shares of Morphic by 38.5% in the third quarter. TD Asset Management Inc now owns 93,112 shares of the company's stock valued at $2,133,000 after purchasing an additional 25,895 shares during the period. Swiss National Bank increased its stake in Morphic by 1.0% in the third quarter. Swiss National Bank now owns 59,400 shares of the company's stock valued at $1,361,000 after purchasing an additional 600 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Morphic during the third quarter worth about $321,000. 94.25% of the stock is owned by institutional investors and hedge funds.

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.