MorphoSys (NASDAQ:MOR) Shares Gap Up to $7.62

MorphoSys AG (NASDAQ:MOR – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $7.62, but opened at $7.78. MorphoSys shares last traded at $7.59, with a volume of 22,223 shares.

Analyst Upgrades and Downgrades

MOR has been the topic of several research reports. UBS Group initiated coverage on shares of MorphoSys in a report on Wednesday, May 31st. They set a “buy” rating on the stock. JPMorgan Chase & Co. upgraded shares of MorphoSys from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $3.30 to $10.00 in a report on Friday, June 16th. Finally, Wells Fargo & Company initiated coverage on shares of MorphoSys in a report on Friday, June 16th. They set an “overweight” rating and a $17.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, MorphoSys presently has an average rating of “Hold” and an average price target of $16.40.

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MorphoSys Trading Down 0.9 %

The firm has a market capitalization of $1.03 billion, a P/E ratio of -9.32 and a beta of 1.06. The company has a quick ratio of 3.46, a current ratio of 3.60 and a debt-to-equity ratio of 2.45. The firm’s 50-day simple moving average is $6.24 and its 200-day simple moving average is $4.98.

MorphoSys (NASDAQ:MOR – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported ($0.35) earnings per share (EPS) for the quarter. MorphoSys had a negative net margin of 27.59% and a negative return on equity of 222.19%. The company had revenue of $66.84 million for the quarter. Analysts anticipate that MorphoSys AG will post -2.19 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MOR. UBS Group AG boosted its holdings in MorphoSys by 122.7% in the third quarter. UBS Group AG now owns 5,141 shares of the company’s stock valued at $26,000 after acquiring an additional 2,832 shares in the last quarter. Susquehanna International Group LLP bought a new stake in MorphoSys in the fourth quarter valued at $38,000. Virtu Financial LLC bought a new stake in MorphoSys in the second quarter valued at $53,000. Citadel Advisors LLC bought a new stake in shares of MorphoSys during the 3rd quarter valued at $101,000. Finally, Two Sigma Securities LLC bought a new stake in shares of MorphoSys during the 1st quarter valued at $86,000. 10.09% of the stock is owned by hedge funds and other institutional investors.

About MorphoSys

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MorphoSys AG, a commercial-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutic antibodies for patients suffering from cancer and autoimmune diseases in the United States. It offers Tafasitamab, an antibody for the treatment of B cell malignancies, including diffuse large B-cell lymphoma, follicular lymphoma, and marginal zone lymphoma.

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