Long Position on MORF @ $59.00 on 6/7/2023 (Momentum)

Morphic Holding, Inc. (MORF) 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.

The company's products in pipeline include Next Gen a4ß7 Inhibitors for additional potential GI indications, such as EGIDs, pouchitis, etc.; avß8 for the treatment of Myelofibrosis and solid tumor; and fibronectin integrin for pulmonary hypertensive.

In addition, it has a license agreement with Janssen to discover and develop novel integrin therapeutics; collaboration agreement with Schrödinger for integrin targets; and license agreement with Children's Medical Center Corporation to develop and commercialize products worldwide for any therapeutic or diagnostic use in humans and veterinary applications. 

Shares have formed a bullish "cup and handle" as chances of company's MORF-057 getting good results are improving. The company is a presenter at the Jefferies Healthcare Conference, including a hosted fireside chat, on Wednesday, June 7, 2023. Higher share prices are expected.

Entry Point: $59.00

Stop Loss: $55.00

Trading Range: $19.23 - $60.23

Target Price: $65.00

Position closed on 6/30/2023 at price of $55.00 with a -6.78% loss in 22 days.

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