Pictet Asset Management Ltd. Makes New Investment in Morphic Holding (NASDAQ:MORF)

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Pictet Asset Management Ltd. bought a new position in shares of Morphic Holding (NASDAQ:MORF) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 250,149 shares of the company’s stock, valued at approximately $4,958,000. Pictet Asset Management Ltd. owned about 0.85% of Morphic as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Glen Harbor Capital Management LLC acquired a new stake in shares of Morphic in the second quarter valued at approximately $97,000. Tyers Asset Management LLC acquired a new stake in shares of Morphic in the second quarter valued at approximately $134,000. Flinton Capital Management LLC acquired a new position in Morphic during the second quarter valued at approximately $170,000. Neuburgh Advisers LLC acquired a new position in Morphic during the second quarter valued at approximately $207,000. Finally, Tiverton Asset Management LLC acquired a new position in Morphic during the second quarter valued at approximately $870,000.

Several research analysts have commented on MORF shares. BMO Capital Markets boosted their price objective on shares of Morphic from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Co started coverage on shares of Morphic in a research report on Monday, July 22nd. They set an “outperform” rating for the company. Jefferies Financial Group started coverage on shares of Morphic in a research report on Monday, July 22nd. They set a “buy” rating for the company. Finally, Cowen restated a “buy” rating on shares of Morphic in a research report on Monday, August 12th.

In related news, major shareholder Fund V. Gp L.P. Omega bought 133,333 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $15.00 per share, with a total value of $1,999,995.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings A/S Novo bought 666,667 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $10,000,005.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 833,333 shares of company stock worth $12,499,995.

MORF traded down $0.12 during trading on Tuesday, hitting $18.93. 12,427 shares of the stock traded hands, compared to its average volume of 54,927. Morphic Holding has a twelve month low of $15.72 and a twelve month high of $33.50. The business’s 50 day moving average is $21.90.

Morphic (NASDAQ:MORF) last announced its quarterly earnings data on Monday, August 12th. The company reported ($4.73) EPS for the quarter, missing the consensus estimate of ($0.40) by ($4.33). The business had revenue of $5.57 million for the quarter, compared to analyst estimates of $8.60 million. Equities analysts expect that Morphic Holding will post -1.95 earnings per share for the current year.

About Morphic

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.

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Institutional Ownership by Quarter for Morphic (NASDAQ:MORF)

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