Morphic (NASDAQ:MORF) Trading Down 4.4%

Morphic Holding, Inc. (NASDAQ:MORF)’s share price traded down 4.4% during mid-day trading on Tuesday . The stock traded as low as $28.20 and last traded at $28.20. 126,788 shares were traded during mid-day trading, a decline of 75% from the average session volume of 505,788 shares. The stock had previously closed at $29.51.

Morphic Price Performance

The firm’s fifty day moving average price is $34.99 and its 200-day moving average price is $28.77. The firm has a market capitalization of $1.40 billion, a P/E ratio of -8.08 and a beta of 1.42.

Morphic (NASDAQ:MORF) last posted 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). Analysts expect that Morphic Holding, Inc. will post -3.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MORF. Point72 Asset Management L.P. boosted its holdings in Morphic by 83.3% during the fourth quarter. Point72 Asset Management L.P. now owns 4,591,000 shares of the company’s stock worth $132,588,000 after buying an additional 2,086,617 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Morphic by 48.5% during the third quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock worth $78,394,000 after buying an additional 1,117,985 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Morphic by 1,719.6% during the second quarter. Alliancebernstein L.P. now owns 1,160,617 shares of the company’s stock worth $66,538,000 after buying an additional 1,096,832 shares in the last quarter. State Street Corp boosted its holdings in Morphic by 64.5% during the second quarter. State Street Corp now owns 1,975,806 shares of the company’s stock worth $42,875,000 after buying an additional 774,789 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Morphic during the fourth quarter worth approximately $17,818,000. 94.25% of the stock is currently owned by institutional investors.

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.