Morphic Holding Inc’s filing revealed that its CEO Tipirneni Praveen P. unloaded Company’s shares for reported $0.38 million on Jan 16 ’24. In the deal valued at $27.49 per share,13,923 shares were sold. As a result of this transaction, Tipirneni Praveen P. now holds 42,013 shares worth roughly $1.29 million.
Then, Rogers Bruce sold 6,314 shares, generating $173,576 in total proceeds. Upon selling the shares at $27.49, the President now owns 142,036 shares.
Before that, SCHEGERIN MARC sold 6,041 shares. Morphic Holding Inc shares valued at $166,071 were divested by the CFO and COO at a price of $27.49 per share. As a result of the transaction, SCHEGERIN MARC now holds 37,460 shares, worth roughly $1.15 million.
Citigroup initiated its Morphic Holding Inc [MORF] rating to a Buy in a research note published on December 08, 2023; the price target was $46. A number of analysts have revised their coverage, including Stifel’s analysts, who remained covering the stock and in late September has reiterated a ‘”a Hold”‘ rating for it. BTIG Research also remained covering MORF and has decreased its forecast on September 25, 2023 with a “Neutral” recommendation from previously “Buy” rating. Stifel revised its rating on August 09, 2023. It rated MORF as “a Hold” which previously was an “a Buy”.
Price Performance Review of MORF
On Tuesday, Morphic Holding Inc [NASDAQ:MORF] saw its stock jump 2.26% to $30.77. Over the last five days, the stock has lost -3.54%. Morphic Holding Inc shares have risen nearly 6.54% since the year began. Nevertheless, the stocks have fallen -10.37% over the past one year. While a 52-week high of $63.08 was reached on 02/12/24, a 52-week low of $19.34 was recorded on 01/05/24. SMA at 50 days reached $35.17, while 200 days put it at $37.05. A total of 0.22 million shares were traded, compared to the trading of 0.56 million shares in the previous session.
Levels Of Support And Resistance For MORF Stock
The 24-hour chart illustrates a support level at 30.08, which if violated will result in even more drops to 29.38. On the upside, there is a resistance level at 31.12. A further resistance level may holdings at 31.46. The Relative Strength Index (RSI) on the 14-day chart is 38.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.09%. Stochastics %K at 9.04% indicates the stock is a buying.
How much short interest is there in Morphic Holding Inc?
A steep rise in short interest was recorded in Morphic Holding Inc stocks on Mar 15, 2024, growing by 0.24 million shares to a total of 6.14 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.9 million shares. There was a rise of 3.91%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 17.71% of the overall stock float, the days-to-cover ratio (short ratio) rose to 13.27.
The most recent change occurred on September 07, 2022 when Stifel began covering the stock and recommended ‘”a Buy”‘ rating along with a $44 price target.
