Morphic Holding (NASDAQ:MORF) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 618,000 shares, a decrease of 6.0% from the January 15th total of 657,300 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average daily volume of 57,900 shares, the short-interest ratio is presently 10.7 days.
Several equities analysts recently commented on MORF shares. Zacks Investment Research downgraded shares of Morphic from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. BidaskClub downgraded shares of Morphic from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Morphic currently has an average rating of “Buy” and a consensus price target of $26.50.
A number of institutional investors have recently added to or reduced their stakes in MORF. Meeder Asset Management Inc. boosted its position in Morphic by 111.8% in the 4th quarter. Meeder Asset Management Inc. now owns 1,398 shares of the company’s stock valued at $25,000 after buying an additional 738 shares during the period. Royce & Associates LP purchased a new stake in Morphic in the 4th quarter valued at about $32,000. Victory Capital Management Inc. lifted its position in shares of Morphic by 72.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,836 shares of the company’s stock worth $37,000 after purchasing an additional 772 shares during the period. Barclays PLC purchased a new stake in shares of Morphic in the 3rd quarter worth approximately $48,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Morphic in the 3rd quarter worth approximately $140,000. 45.19% of the stock is owned by institutional investors.
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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