Morphic Holding Inc. [NASDAQ: MORF] surged by $48.69 during the normal trading session on Monday and reaching a high of $93.00 during the day while it closed the day at $84.85. The company report on March 2, 2021 that Morphic Therapeutic Announces Proposed Public Offering.
Morphic Holding, Inc. (Nasdaq: MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, announced a proposed underwritten public offering in which it intends to offer and sell $200.0 million of shares of its common stock. In addition, Morphic intends to grant the underwriters a 30-day option to purchase up to an additional $30.0 million of shares of its common stock. All of the shares of common stock are being offered by Morphic. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Jefferies, Cowen, BMO Capital Markets and RBC Capital Markets are acting as joint bookrunners for the offering.
Morphic Holding Inc. stock has also gained 146.44% of its value over the past 7 days. However, MORF stock has inclined by 160.52% in the 3 months of the year. Over the past six months meanwhile, it has gained 233.66% and gained 152.91% year-on date.
The market cap for MORF stock reached $2.40 billion, with 30.53 million shares outstanding and 19.65 million shares in the current float. Compared to the average trading volume of 134.30K shares, MORF reached a trading volume of 12943470 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Morphic Holding Inc. [MORF]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MORF shares is $45.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MORF stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for Morphic Holding Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 26, 2020. The new note on the price target was released on July 22, 2019, representing the official price target for Morphic Holding Inc. stock.
The Average True Range (ATR) for Morphic Holding Inc. is set at 6.13, with the Price to Sales ratio for MORF stock in the period of the last 12 months amounting to 62.00. The Price to Book ratio for the last quarter was 19.87, with the Price to Cash per share for the same quarter was set at 7.53.
MORF stock trade performance evaluation
Morphic Holding Inc. [MORF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 146.44. With this latest performance, MORF shares gained by 152.53% in over the last four-week period, additionally plugging by 233.66% over the last 6 months – not to mention a rise of 437.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MORF stock in for the last two-week period is set at 88.87, with the RSI for the last a single of trading hit 91.58, and the three-weeks RSI is set at 86.46 for Morphic Holding Inc. [MORF]. The present Moving Average for the last 50 days of trading for this stock 34.70, while it was recorded at 44.57 for the last single week of trading, and 28.43 for the last 200 days.
Morphic Holding Inc. [MORF]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Morphic Holding Inc. [MORF] shares currently have an operating margin of -276.77. Morphic Holding Inc.’s Net Margin is presently recorded at -255.22.
Return on Total Capital for MORF is now -41.19, given the latest momentum, and Return on Invested Capital for the company is -37.98. Return on Equity for this stock declined to -98.06, with Return on Assets sitting at -19.84.
Reflecting on the efficiency of the workforce at the company, Morphic Holding Inc. [MORF] managed to generate an average of -$570,105 per employee. Receivables Turnover for the company is 9.79 with a Total Asset Turnover recorded at a value of 0.08.Morphic Holding Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.10 and a Current Ratio set at 6.10.
Earnings per share (EPS) analysis for Morphic Holding Inc. [MORF] stock
With the latest financial reports released by the company, Morphic Holding Inc. posted -0.55/share EPS, while the average EPS was predicted by analysts to be reported at -0.48/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MORF.
Morphic Holding Inc. [MORF]: Insider Ownership positions
There are presently around $1,778 million, or 67.70% of MORF stock, in the hands of institutional investors. The top three institutional holders of MORF stocks are: FMR LLC with ownership of 4,668,745, which is approximately 1.523% of the company’s market cap and around 0.70% of the total institutional ownership; OMEGA FUND MANAGEMENT, LLC, holding 2,921,771 shares of the stock with an approximate value of $247.91 million in MORF stocks shares; and ECOR1 CAPITAL, LLC, currently with $240.96 million in MORF stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Morphic Holding Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 55 institutional holders increased their position in Morphic Holding Inc. [NASDAQ:MORF] by around 1,968,617 shares. Additionally, 15 investors decreased positions by around 150,852 shares, while 10 investors held positions by with 18,833,483 shares. The mentioned changes placed institutional holdings at 20,952,952 shares, according to the latest SEC report filing. MORF stock had 24 new institutional investments in for a total of 1,059,892 shares, while 4 institutional investors sold positions of 19,520 shares during the same period.