Seven Eight Capital LP Invests $804,000 in Morphic Holding, Inc. (NASDAQ:MORF)

Seven Eight Capital LP bought a new position in shares of Morphic Holding, Inc. (NASDAQ:MORF) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 22,835 shares of the company’s stock, valued at approximately $804,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MORF. Vanguard Group Inc. lifted its holdings in Morphic by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,107,410 shares of the company’s stock worth $48,281,000 after purchasing an additional 200,772 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Morphic by 364.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company’s stock valued at $166,000 after purchasing an additional 4,515 shares during the last quarter. Arizona State Retirement System bought a new position in shares of Morphic in the 4th quarter valued at $232,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Morphic by 12.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,758 shares of the company’s stock valued at $686,000 after purchasing an additional 2,546 shares during the last quarter. Finally, HealthInvest Partners AB bought a new position in shares of Morphic in the 4th quarter valued at $432,000. 94.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Robert E. Farrell, Jr. sold 30,272 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $55.80, for a total value of $1,689,177.60. Following the transaction, the chief accounting officer now directly owns 13,781 shares of the company’s stock, valued at approximately $768,979.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Robert E. Farrell, Jr. sold 30,272 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $55.80, for a total value of $1,689,177.60. Following the transaction, the chief accounting officer now directly owns 13,781 shares of the company’s stock, valued at approximately $768,979.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel William Devaul sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $55.79, for a total value of $557,900.00. Following the transaction, the general counsel now directly owns 23,029 shares in the company, valued at $1,284,787.91. The disclosure for this sale can be found here. Insiders have sold 125,790 shares of company stock valued at $7,018,566 in the last ninety days. 25.60% of the stock is owned by company insiders.

Morphic Stock Down 0.1 %

Shares of NASDAQ MORF traded down $0.06 during trading on Tuesday, reaching $56.53. The company had a trading volume of 1,281,033 shares, compared to its average volume of 1,203,952. The company’s fifty day moving average price is $35.85 and its 200-day moving average price is $33.52. Morphic Holding, Inc. has a 12 month low of $19.34 and a 12 month high of $62.08. The stock has a market cap of $2.83 billion, a P/E ratio of -16.17 and a beta of 1.50.

Morphic (NASDAQ:MORF) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.05. As a group, equities analysts predict that Morphic Holding, Inc. will post -4.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MORF shares. Stifel Nicolaus lifted their price target on Morphic from $30.00 to $57.00 and gave the company a “hold” rating in a research note on Monday. BMO Capital Markets restated a “market perform” rating and set a $57.00 price objective (up previously from $52.00) on shares of Morphic in a research report on Tuesday, July 9th. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price objective (down previously from $70.00) on shares of Morphic in a research report on Tuesday, July 9th. Finally, TD Cowen restated a “hold” rating on shares of Morphic in a research report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.25.

Morphic 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.