Thinking Of Investing In Morphic Holding Inc. (NASDAQ: MORF) Stock? Here’s What You Need To Know

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Morphic Holding Inc. (NASDAQ:MORF) shares, rose in value on Friday, 08/05/22, with the stock price up by 1.60% to the previous day’s close as strong demand from buyers drove the stock to $32.44.

Actively observing the price movement in the last trading, the stock closed the session at $31.93, falling within a range of $30.39 and $32.91. The value of beta (5-year monthly) was 1.44. Referring to stock’s 52-week performance, its high was $68.75, and the low was $19.23. On the whole, MORF has fluctuated by 38.22% over the past month.

With the market capitalization of Morphic Holding Inc. currently standing at about $1.24 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 28, 2022 – Mar 04, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.85, which is expected to increase to -$0.78 for fiscal year -$3.5 and then to about -$3.74 by fiscal year 2023. Data indicates that the EPS growth is expected to be -31.10% in 2023, while the next year’s EPS growth is forecast to be -6.90%.

Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $12.57 million, representing a decrease of -36.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MORF’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MORF currently trading nearly 25.92% and 36.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.33, while the 7-day volatility ratio is showing 8.83% which for the 30-day chart, stands at 7.55%. Furthermore, Morphic Holding Inc. (MORF)’s average true range (ATR) is 1.99. The company’s stock has been forecasted to trade at an average price of $65.29 over the course of the next 52 weeks, with a low of $45.00 and a high of $83.00. Based on these price targets, the low is -38.72% off current price, whereas the price has to move -155.86% to reach the yearly target high. Additionally, analysts’ median price of $68.00 is likely to be welcomed by investors because it represents a decrease of -109.62% from the current levels.

A comparison of Morphic Holding Inc. (MORF) with its peers suggests the former has fared considerably weaker in the market. MORF showed an intraday change of 1.60% in last session, and over the past year, it shrunk by -43.57%%. In comparison, Johnson & Johnson (JNJ) has moved lower at -0.40% on the day and was down -1.49% over the past 12 months. On the other hand, the price of Eli Lilly and Company (LLY) has fallen -1.46% on the day. The stock, however, is off 14.05% from where it was a year ago. Additionally, there is a loss of -1.18% for Pfizer Inc. (PFE) in last trading while the stock has seen an overall depriciation of 9.34%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.

Data on historical trading for Morphic Holding Inc. (NASDAQ:MORF) indicates that the trading volumes over the past 10 days have averaged 0.37 million and over the past 3 months, they’ve averaged 410.39K. According to company’s latest data on outstanding shares, there are 37.13 million shares outstanding.

Nearly 0.30% of Morphic Holding Inc.’s shares belong to company insiders and institutional investors own 82.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.51 million shares as on Jul 14, 2022, resulting in a short ratio of 7.33. According to the data, the short interest in Morphic Holding Inc. (MORF) stood at 9.18% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 3.11 million. The stock has fallen by -31.53% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MORF stock heading into the next quarter.