Arizona State Retirement System Acquires 202 Shares of Morphic Holding, Inc. (NASDAQ:MORF)

Arizona State Retirement System lifted its holdings in shares of Morphic Holding, Inc. (NASDAQ:MORF) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,404 shares of the company’s stock after purchasing an additional 202 shares during the period. Arizona State Retirement System’s holdings in Morphic were worth $286,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Morphic by 26.5% during the 2nd quarter. Rhumbline Advisers now owns 65,379 shares of the company’s stock valued at $2,227,000 after purchasing an additional 13,677 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Morphic by 109.1% during the 2nd quarter. nVerses Capital LLC now owns 2,300 shares of the company’s stock valued at $78,000 after purchasing an additional 1,200 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Morphic by 22.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 152,374 shares of the company’s stock valued at $5,191,000 after purchasing an additional 27,480 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Morphic by 24.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 88,962 shares of the company’s stock valued at $3,031,000 after purchasing an additional 17,578 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Morphic during the 2nd quarter valued at $296,000. Institutional investors own 94.25% of the company’s stock.

Insider Transactions at Morphic

In related news, General Counsel William Devaul sold 10,000 shares of Morphic stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.79, for a total transaction of $557,900.00. Following the completion of the transaction, the general counsel now directly owns 23,029 shares of the company’s stock, valued at approximately $1,284,787.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, President Bruce Rogers sold 20,000 shares of Morphic stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.79, for a total transaction of $1,115,800.00. Following the completion of the transaction, the president now directly owns 149,883 shares of the company’s stock, valued at approximately $8,361,972.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel William Devaul sold 10,000 shares of Morphic stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.79, for a total transaction of $557,900.00. Following the transaction, the general counsel now directly owns 23,029 shares of the company’s stock, valued at $1,284,787.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,790 shares of company stock valued at $7,018,566. Company insiders own 25.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MORF shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $57.00 target price (up previously from $52.00) on shares of Morphic in a report on Tuesday, July 9th. TD Cowen reissued a “hold” rating on shares of Morphic in a report on Tuesday, July 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price target on shares of Morphic in a report on Friday, July 26th. Finally, Stifel Nicolaus raised their price target on shares of Morphic from $30.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Morphic has a consensus rating of “Hold” and a consensus target price of $54.25.

Morphic Stock Performance

NASDAQ:MORF opened at $56.99 on Wednesday. The company has a 50-day moving average price of $56.76 and a 200-day moving average price of $40.37. Morphic Holding, Inc. has a 12 month low of $19.34 and a 12 month high of $57.00. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -16.28 and a beta of 1.49.

Morphic (NASDAQ:MORF) last posted its earnings results on Thursday, July 25th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.19). Equities analysts forecast that Morphic Holding, Inc. will post -4.07 EPS for the current fiscal year.

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.