On Jan. 04, Tipirneni Praveen P. divested U.S. $256,781 in shares of Morphic Holding Inc.. The Pres, CEO sold 8,000 shares at a price per share of $32.10. The transaction decreased this specific insider’s holdings to 630,287 shares worth around $18.77 million at present.
Another 37,641 shares were sold by Rogers Bruce, for more than $1,176,936 in total proceeds. The Chief Scientific Officer dumped the shares at a price of $31.27 and the insider now owns almost 111,464 shares.
RBC Capital Mkts launched its Morphic Holding Inc. [MORF] rating to the equivalent of an Outperform and assigned the price target of $35, in a research note dated October 26, 2020. That figure represents around a 14.91% premium from where the company’s shares closed on Wednesday. Some new analysts also started their coverage, with RBC Capital Mkts’s analysts assigning the shares to “an Outperform” rating in a research note to investors issued in late October. Meanwhile, Wells Fargo had launched its coverage on MORF with “an Outperform”, in a research note produced for clients July 22, 2019. In addition, there was a new coverage from Jefferies on July 22, 2019. The research firm rated MORF “a Buy”.
Is Morphic Holding Inc. [NASDAQ:MORF] a Good Buy Right Now?
It should be noted that MORF technical indicators for short, intermediate as well as long term progress have placed an overall average of 56% as Buy. The average signal changed from 80% Buy in the last week and compares with 100% Buy in the past month. Data from Morphic Holding Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.16 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.12 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 83957.0 shares.
MORF Price Performance
On Wall Street, Morphic Holding Inc. [NASDAQ:MORF] finished Wednesday’s session down -3.19% at $29.78. The stock went up to $32.176 at the same session while its lowest single day price was $29.21. In the last five days, it saw a fall of about -5.16%, Morphic Holding Inc. shares dropped by almost -11.24% since the beginning of the year. However, the share price has dropped to as low as -18.74% below its one year high. On 01/05/21, the company shares recorded $34.17, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $29.21. The company’s shares have inclined by 73.95% in the past year. The 50-day SMA achieved is $30.54 while the 200-day SMA is $24.62.
Morphic Holding Inc. [MORF] Valuation Measures
Notably, Morphic Holding Inc. [MORF] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 23.96 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 20.33.
MORF Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 28.60 level, and in case of violation of this particular level, it will cause more drop to 27.42 level. On the upper level, 33.35 is still the key resistance. The stock may increase to the subsequent resistance at 31.57. The Relative Strength Index (RSI) pinned on the 14-day chart is 40.12, implying a neutral technical stance while the MACD stands at -1.79, meaning price will decrease in the next trading period. Percent R indicator moved to 92.34%, implying bearish price movement. Stochastic %K at 12.29% suggest buying the stock.
What is the short interest in Morphic Holding Inc.?
Short interest in the Morphic Holding Inc. stock has plunged, decreasing by -0.15 million shares to total 0.93 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.78 million, data from Yahoo Finance shows. The increase of 16.28% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 7.66% of the overall float for the stock.
Morphic Holding Inc.’s Biggest Shareholders: Who Owns Morphic Holding Inc. [MORF]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 4,578,440 shares or roughly 14.71% of the outstanding MORF shares. This means their shares have increased by 8,447 from the 4,578,440 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Ecor1 Capital LLC updated stake is worth $89,087,161. Details in the latest 13F filings reveal that Invus Public Equities Advisors LL disposed off their -1.05% stake valued at $51,813,390 while BlackRock Fund Advisors added theirs at $22,175,233. During the last quarter, Invus Public Equities Advisors LL liquidated -17,500 of its shares in Morphic Holding Inc. while BlackRock Fund Advisors bought 5,940 shares. The The Vanguard Group, Inc.’s holdings currently number 654,192 shares at $19481837.76. According to the firm’s last 13F report, Perceptive Advisors LLC shares in the company at filing stood at 487,000 shares, roughly $15,277,190.
MORF Earnings Forecast For The Current Quarter
Morphic Holding Inc. [MORF] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $6.62M and an earnings per share of -$0.53 for Dec 2020. Looking further ahead, the company is expected to report revenue of $6M at an EPS of -$0.51 for Mar 2021. The estimates represent downside of -22.60% and -29.90% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MORF Earnings Estimates For The Current Year
For the financial year, Morphic Holding Inc. [NASDAQ:MORF] is expected to bring in revenue of $45.74M. The returns are nearly $28.76 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.44, higher than that of FY19 by $1.25. Estimates put this year’s earnings growth at 46.50%, -29.90% for the next. As for sales, forecasts are for an increase of 169.40% in the current fiscal year and a further -22.60% over the following year.
What are analyst thoughts on Morphic Holding Inc.?
Looking forward to the Morphic Holding Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Morphic Holding Inc. stock at $40.00 within the next 12 months, which represents almost 25.55 per cent growth from its previous closing price of $29.78. The highest analysts’ target for Morphic Holding Inc. stock projections is $50.00 and the lowest one is $35.00. Still, 5 analysts sharing their consensus rating for MORF stock in 2021 agree that it is a Buy.