Morphic (NASDAQ:MORF) Coverage Initiated at Wells Fargo & Co

Analysts at Wells Fargo & Co started coverage on shares of Morphic (NASDAQ:MORF) in a note issued to investors on Monday, MarketBeat.com reports. The firm set an “outperform” rating on the stock.

Separately, BMO Capital Markets decreased their target price on shares of West Fraser Timber from C$78.00 to C$74.00 in a report on Monday.

Shares of Morphic stock opened at $20.47 on Monday. Morphic has a 52-week low of $15.72 and a 52-week high of $25.19.

In related news, Director Timothy A. Springer acquired 33,333 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $499,995.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Fund V. Gp L.P. Omega acquired 133,333 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $1,999,995.00. The disclosure for this purchase can be found here. Insiders have bought 833,333 shares of company stock valued at $12,499,995 over the last three months.

Morphic Company Profile

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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