MorphoSys (NASDAQ:MOR) Shares Gap Down to $19.34

MorphoSys AG (NASDAQ:MOR)’s share price gapped down before the market opened on Friday . The stock had previously closed at $19.34, but opened at $18.95. MorphoSys shares last traded at $19.00, with a volume of 302,708 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on MOR shares. Morgan Stanley reissued an “equal weight” rating on shares of MorphoSys in a report on Friday, January 19th. Wells Fargo & Company reissued an “equal weight” rating and set a $18.25 price objective (up previously from $17.00) on shares of MorphoSys in a report on Thursday, March 14th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.78.

MorphoSys Trading Down 1.3 %

The company has a debt-to-equity ratio of 4.98, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s fifty day simple moving average is $18.04 and its 200-day simple moving average is $13.29.

MorphoSys (NASDAQ:MOR) last announced its quarterly earnings results on Wednesday, March 13th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $1.25. MorphoSys had a negative net margin of 226.79% and a negative return on equity of 694.31%. The company had revenue of $63.53 million for the quarter, compared to the consensus estimate of $76.30 million. On average, equities analysts predict that MorphoSys AG will post -2.08 EPS for the current fiscal year.

Hedge Funds Weigh In On MorphoSys

Several institutional investors and hedge funds have recently modified their holdings of the company. Kynam Capital Management LP purchased a new position in shares of MorphoSys during the fourth quarter valued at approximately $41,923,000. Carlson Capital L P acquired a new position in MorphoSys during the first quarter worth approximately $17,241,000. TD Asset Management Inc increased its position in MorphoSys by 153.8% during the fourth quarter. TD Asset Management Inc now owns 361,138 shares of the company’s stock worth $3,575,000 after purchasing an additional 218,870 shares during the last quarter. Optiver Holding B.V. increased its position in MorphoSys by 8,577.2% during the third quarter. Optiver Holding B.V. now owns 144,042 shares of the company’s stock worth $968,000 after purchasing an additional 142,382 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in MorphoSys by 71.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 116,901 shares of the company’s stock worth $2,121,000 after purchasing an additional 48,710 shares during the last quarter. Hedge funds and other institutional investors own 18.38% of the company’s stock.

About MorphoSys

MorphoSys AG, together with its subsidiaries, engages in the development and commercialization of therapeutics for patients suffering from various cancers in Europe, Asia, and the United States. The company's product pipeline includes Pelabresib that is in Phase 3 trials to treat myelofibrosis and thrombocythemia; Tulmimetostat, a product candidate in Phase 1/2 trials for the treatment of solid tumors and lymphomas; Felzartamab, an antibody directed against CD38 for renal autoimmune diseases and relapsed/refractory multiple myeloma; Ianalumab, a candidate in Phase 3 clinical trials for Sjögren's disease, lupus nephritis, and other autoimmune diseases; Abelacimab that is in Phase 3 trials for venous thromboembolism prevention and cancer-associated thrombosis; Setrusumab, which is in Phase 2/3 trials for osteogenesis imperfecta; and Bimagrumab, a product candidate in Phase 2b trials for adult obesity.