Morphic Holding Inc. [MORF] President makes an insider purchase of 10,000 shares worth 0.4 million.


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Morphic Holding Inc. shares valued at $400,901 were sold by Rogers Bruce on Feb 14. At $40.09 per share, Rogers Bruce sold 10,000 shares. The insider’s holdings dropped to 116,192 shares worth approximately $4.99 million following the completion of this transaction.

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Also, Tipirneni Praveen P. sold 4,027 shares, netting a total of over 123,338 in proceeds. Following the sale of shares at $30.63 each, the insider now holds 12,679 shares.

Before that, Rogers Bruce had sold 1,778 shares from its account. In a trade valued at $54,458, the President traded Morphic Holding Inc. shares for $30.63 each. Upon closing the transaction, the insider’s holdings decreased to 1,778 shares, worth approximately $4.99 million.

As published in their initiating research note from Stifel on September 07, 2022, Morphic Holding Inc. [MORF] has been a Buy and the price target has been revised to $44. This represents a 2.32% premium over Thursday’s closing price. Analysts at SVB Leerink started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid July. As of March 31, 2022, Canaccord Genuity has initiated its “Buy” rating for MORF. Earlier on February 11, 2022, BTIG Research initiated its rating. Their recommendation was “a Buy” for MORF stock.

Analyzing MORF Stock Performance

On Thursday, Morphic Holding Inc. [NASDAQ: MORF] rose 1.94% to $42.98. The stock’s lowest price that day was $41.79, but it reached a high of $44.66 in the same session. During the last five days, there has been a surge of approximately 7.61%. Over the course of the year, Morphic Holding Inc. shares have jumped approximately 60.67%. Shares of the company reached a 52-week high of $44.66 on 02/23/23 and a 52-week low of $24.87 on 01/10/23. A 50-day SMA is recorded $31.34, while a 200-day SMA reached $27.72. Nevertheless, trading volume fell to 0.52 million shares from 0.44 million shares the previous day.

Support And Resistance Levels for Morphic Holding Inc. (MORF)

According to the 24-hour chart, there is a support level at 41.63, which, if violated, would cause prices to drop to 40.27. In the upper region, resistance lies at 44.50. The next price resistance is at 46.01. RSI (Relative Strength Index) is 72.12 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.05, which suggests the price will increase in the coming days. Percent R is at 14.45%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Morphic Holding Inc. subject to short interest?

Stocks of Morphic Holding Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.32 million shares to 3.25 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.57 million shares. A decline of -9.85% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 12.49 of the overall float, the days-to-cover ratio (short ratio) decline to 12.49.

Which companies own the most shares of Morphic Holding Inc. (MORF)?

According to Fidelity Management & Research Co filings, the company currently owns 5,782,426 shares, which is about 15.00% of the total MORF shares outstanding. The investor’s shares have appreciated by 11,327 from its previous 13-F filing of 5771099.0 shares. A total of 214,957 shares of Morphic Holding Inc. were bought by The Vanguard Group, Inc. during the quarter, and 28,922 were bought by SSgA Funds Management, Inc. In its current portfolio, Wellington Management Co. LLP holds 1,409,513 shares valued at $46.13 million.

In terms of Morphic Holding Inc. share price expectations, FactSet research, analysts set an average price target of $59.00 in the next 12 months, up nearly 51.8% from the previous closing price of $42.16. Analysts anticipate Morphic Holding Inc. stock to reach $75.00 by 2023, with the lowest price target being $44.00. In spite of this, 7 analysts ranked Morphic Holding Inc. stock as a Buy at the end of 2023. On December 08, 2021, Wells Fargo assigned a price target of “an Overweight” to the stock and initiated coverage with a $81.


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