Morphic (NASDAQ:MORF – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.19), Zacks reports.
Morphic Stock Performance
Morphic stock traded down $0.06 during trading hours on Friday, reaching $56.55. 1,406,891 shares of the stock were exchanged, compared to its average volume of 5,416,917. The stock has a market cap of $2.83 billion, a P/E ratio of -16.16 and a beta of 1.50. Morphic has a 52-week low of $19.34 and a 52-week high of $62.08. The firm’s 50 day moving average is $37.97 and its 200 day moving average is $34.28.
Insiders Place Their Bets
In other Morphic news, CAO Robert E. Farrell, Jr. sold 30,272 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $55.80, for a total transaction of $1,689,177.60. Following the completion of the transaction, the chief accounting officer now owns 13,781 shares in the company, valued at approximately $768,979.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Marc Schegerin sold 43,936 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.80, for a total value of $2,451,628.80. Following the completion of the transaction, the chief financial officer now owns 37,907 shares in the company, valued at approximately $2,115,210.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert E. Farrell, Jr. sold 30,272 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.80, for a total transaction of $1,689,177.60. Following the completion of the transaction, the chief accounting officer now owns 13,781 shares of the company’s stock, valued at approximately $768,979.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,790 shares of company stock worth $7,018,566. 25.60% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on Morphic
Morphic Company Profile
Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, and metabolic diseases, as well as fibrosis and cancer. Its lead product candidate MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.
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