Jennison Associates LLC Takes $17.82 Million Position in Morphic Holding, Inc. (NASDAQ:MORF)

Jennison Associates LLC bought a new stake in Morphic Holding, Inc. (NASDAQ:MORF) in the fourth quarter, HoldingsChannel reports. The fund bought 616,950 shares of the company’s stock, valued at approximately $17,818,000.

A number of other large investors have also modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Morphic by 48.5% in the third quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock valued at $78,394,000 after buying an additional 1,117,985 shares in the last quarter. Vanguard Group Inc. grew its stake in Morphic by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,107,410 shares of the company’s stock valued at $48,281,000 after purchasing an additional 200,772 shares in the last quarter. Federated Hermes Inc. grew its stake in Morphic by 13.1% during the 4th quarter. Federated Hermes Inc. now owns 1,000,000 shares of the company’s stock valued at $28,880,000 after purchasing an additional 115,975 shares in the last quarter. Silverarc Capital Management LLC grew its stake in Morphic by 134.2% during the 3rd quarter. Silverarc Capital Management LLC now owns 590,829 shares of the company’s stock valued at $13,536,000 after purchasing an additional 338,520 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Morphic by 14.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,276 shares of the company’s stock worth $6,971,000 after buying an additional 37,264 shares during the last quarter. Institutional investors and hedge funds own 94.25% of the company’s stock.

Morphic Stock Up 1.0 %

NASDAQ:MORF opened at $27.98 on Friday. The business’s 50 day moving average is $33.33 and its two-hundred day moving average is $29.00. Morphic Holding, Inc. has a 52 week low of $19.34 and a 52 week high of $63.08.

Morphic (NASDAQ:MORF) last announced its earnings results on Thursday, February 22nd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). As a group, equities analysts expect that Morphic Holding, Inc. will post -3.9 EPS for the current year.

About Morphic

Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, and metabolic diseases, as well as fibrosis and cancer. Its lead product candidate MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.