Pictet Asset Management Ltd. trimmed its stake in shares of Morphic Holding (NASDAQ:MORF) by 70.7% during the third quarter, Holdings Channel.com reports. The firm owned 73,275 shares of the company’s stock after selling 176,874 shares during the period. Pictet Asset Management Ltd.’s holdings in Morphic were worth $1,327,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Artal Group S.A. bought a new stake in shares of Morphic during the second quarter valued at approximately $9,910,000. Vanguard Group Inc. bought a new position in Morphic in the 2nd quarter worth approximately $1,515,000. Glen Harbor Capital Management LLC acquired a new position in Morphic during the 2nd quarter worth $97,000. Jefferies Group LLC acquired a new position in Morphic during the 2nd quarter worth $2,478,000. Finally, Novo Holdings A S bought a new position in Morphic in the 2nd quarter valued at $52,433,000.
Shares of NASDAQ MORF opened at $16.41 on Friday. The firm has a 50 day simple moving average of $15.21. Morphic Holding has a fifty-two week low of $12.03 and a fifty-two week high of $33.50.
MORF has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on Morphic from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Zacks Investment Research upgraded Morphic from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Saturday, November 16th. Finally, Cowen reiterated a “buy” rating on shares of Morphic in a research report on Monday, August 12th. Five research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $25.00.
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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