Morphic (NASDAQ:MORF) released its earnings results on Monday. The company reported ($4.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($4.33), Bloomberg Earnings reports. The company had revenue of $5.57 million for the quarter, compared to the consensus estimate of $8.60 million.
MORF opened at $26.08 on Tuesday. Morphic has a 1-year low of $15.72 and a 1-year high of $33.50.
In other Morphic news, Director Timothy A. Springer acquired 33,333 shares of the stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $499,995.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Fund V. Gp L.P. Omega acquired 133,333 shares of the stock in a transaction on Monday, July 1st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $1,999,995.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 833,333 shares of company stock worth $12,499,995.
Morphic Company Profile
Morphic Holding, Inc, a biopharmaceutical company, focuses on the discovery and development of oral small-molecule integrin therapeutics. The company's lead product candidates in clinical development are MORF-720, a selective oral avb6 specific integrin inhibitor for the treatment of idiopathic pulmonary fibrosis; and a4b7 specific integrin inhibitors for the treatment of inflammatory bowel disease.
Recommended Story: What does a bar chart display?
Receive News & Ratings for Morphic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morphic and related companies with MarketBeat.com's FREE daily email newsletter.