Morphic Holding Inc (NASDAQ:MORF) At $23.40: So What?

In last trading session, Morphic Holding Inc (NASDAQ:MORF) saw 0.32 million shares changing hands with its beta currently measuring 1.37. Company’s recent per share price level of $23.40 trading at $0.29 or 1.25% at ring of the bell on the day assigns it a market valuation of $1.16B. That closing price of MORF’s stock is at a discount of -169.57% from its 52-week high price of $63.08 and is indicating a premium of 17.35% from its 52-week low price of $19.34. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.59 million shares which gives us an average trading volume of 1.09 million if we extend that period to 3-months.

For Morphic Holding Inc (MORF), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.40. Splitting up the data highlights that, out of 10 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 8 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.85 in the current quarter.

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Morphic Holding Inc (NASDAQ:MORF) trade information

Upright in the green during last session for gaining 1.25%, in the last five days MORF remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $23.40 price level, adding 3.31% to its value on the day. Morphic Holding Inc’s shares saw a change of -12.52% in year-to-date performance and have moved 14.20% in past 5-day. Morphic Holding Inc (NASDAQ:MORF) showed a performance of 13.98% in past 30-days. Number of shares sold short was 6.54 million shares which calculate 5.88 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $59.38 to the stock, which implies a rise of 60.59% to its current value. Analysts have been projecting $27.00 as a low price target for the stock while placing it at a high target of $80.00. It follows that stock’s current price would drop -241.88% in reaching the projected high whereas dropping to the targeted low would mean a loss of -15.38% for stock’s current value.

Morphic Holding Inc (MORF) estimates and forecasts

Statistics highlight that Morphic Holding Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -58.93% of value to its shares in past 6 months, showing an annual growth rate of -128.39% while that of industry is 14.80. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -32.80% in the current quarter and calculating -5.60% decrease in the next quarter. This year revenue growth is estimated to fall -99.30% from the last financial year’s standing.

Company posted $6.13 million and $521k of sales in current and next quarters respectively a year earlier.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -21.85% during past 5 years.

MORF Dividends

Morphic Holding Inc is more likely to be releasing its next quarterly report on November 03 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Morphic Holding Inc (NASDAQ:MORF)’s Major holders

Insiders are in possession of 16.64% of company’s total shares while institution are holding 73.03 percent of that, with stock having share float percentage of 87.61%. Investors also watch the number of corporate investors in a company very closely, which is 73.03% institutions for Morphic Holding Inc that are currently holding shares of the company. FMR, LLC is the top institutional holder at MORF for having 6.87 million shares of worth $394.08 million. And as of Jun 29, 2023, it was holding 14.34% of the company’s outstanding shares.

The second largest institutional holder is EcoR1 Capital, LLC, which was holding about 3.85 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.03% of outstanding shares, having a total worth of $220.55 million.

On the other hand, Fidelity Growth Company Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 1.28 million shares of worth $70.56 million or 2.67% of the total outstanding shares. The later fund manager was in possession of 1.1 million shares on Aug 30, 2023, making its stake of worth around $60.34 million in the company or a holder of 2.29% of company’s stock.

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