Los Angeles Capital Management LLC Has $359,000 Stock Holdings in Morphic Holding, Inc. (NASDAQ:MORF)

Posted by on Aug 9th, 2023

Los Angeles Capital Management LLC lowered its holdings in shares of Morphic Holding, Inc. (NASDAQ:MORF – Free Report) by 20.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,543 shares of the company’s stock after selling 2,473 shares during the period. Los Angeles Capital Management LLC’s holdings in Morphic were worth $359,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Advisor Group Holdings Inc. acquired a new position in shares of Morphic during the 4th quarter worth approximately $25,000. UBS Group AG bought a new position in shares of Morphic in the first quarter valued at about $54,000. Group One Trading L.P. acquired a new stake in shares of Morphic during the 1st quarter worth about $56,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Morphic by 216.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,607 shares of the company’s stock worth $122,000 after buying an additional 3,836 shares during the period. Finally, Arizona State Retirement System acquired a new position in Morphic in the 1st quarter valued at about $231,000. Institutional investors and hedge funds own 66.87% of the company’s stock.

Morphic Trading Up 3.3 %

MORF opened at $58.26 on Wednesday. The company has a market cap of $2.79 billion, a P/E ratio of -17.98 and a beta of 1.10. The company’s 50 day moving average is $57.93 and its 200-day moving average is $48.30. Morphic Holding, Inc. has a 1-year low of $23.03 and a 1-year high of $63.08.

Insider Activity

In other news, General Counsel William Devaul sold 3,802 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $60.03, for a total value of $228,234.06. Following the completion of the transaction, the general counsel now owns 21,194 shares of the company’s stock, valued at $1,272,275.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Praveen P. Tipirneni sold 3,597 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $57.04, for a total value of $205,172.88. Following the completion of the sale, the chief executive officer now owns 13,936 shares of the company’s stock, valued at $794,909.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel William Devaul sold 3,802 shares of Morphic stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $60.03, for a total value of $228,234.06. Following the completion of the transaction, the general counsel now directly owns 21,194 shares in the company, valued at $1,272,275.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,189 shares of company stock worth $1,962,789. Insiders own 28.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Berenberg Bank assumed coverage on Morphic in a research note on Friday, July 21st. They issued a “buy” rating and a $75.00 price target for the company. BMO Capital Markets raised their price target on shares of Morphic from $83.00 to $106.00 in a research report on Wednesday, April 26th. Stifel Nicolaus downgraded shares of Morphic from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet raised shares of Morphic from a “d+” rating to a “c” rating in a report on Monday, May 8th. Finally, Royal Bank of Canada boosted their price target on Morphic from $75.00 to $80.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Morphic currently has an average rating of “Moderate Buy” and a consensus price target of $71.00.

View Our Latest Stock Analysis on MORF

Morphic Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Morphic (NASDAQ:MORF)

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