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.
Featured Story: What moving averages are used to define a golden cross?
Receive News & Ratings for Morphic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morphic and related companies with MarketBeat.com's FREE daily email newsletter.