The 2019 trading year turned out to be an exceptional year, despite the relatively challenging political and economic environment. Germany’s leading DAX index gained more than 25 % for the full year, while the MDAX rose even higher, gaining more than 30 %. Concerns about a downturn in the global economy, the trade dispute between the U.S. and China, and uncertainties surrounding Brexit were not enough to dampen the favorable performance. The Dow Jones also ended the year on a positive note, with a gain of 22 %. Biotechnology stocks benefited from this trend, reflected by the gain in the Nasdaq Biotech Index of 24 % over the prior year.
MorphoSys AG shares have been trading on the Frankfurt Stock Exchange since 1999. In April 2018, MorphoSys issued American Depositary Shares (ADSs) based on MorphoSys’ common stock and began trading on the U.S. Nasdaq exchange. The Company’s ticker symbol is “MOR” on both exchanges. MorphoSys’ shares began the reporting year on the Frankfurt Stock Exchange at a price of € 88.95. After maneuvering a relatively volatile first half-year, the shares gained considerable momentum in July 2019 and broke through the € 100 threshold on July 19, 2019. The shares then began a year-end rally starting in mid-November and reached their high for the year on December 16, 2019 at € 129.90. The shares closed the reporting year at € 126.80, recording a gain of 43 %.
Liquidity and Index Membership
The average daily trading volume in MorphoSys shares across all regulated trading platforms grew by approximately 14 % in 2019 over the prior year and amounted to € 25.6 million (2018: € 22.5 million). The average daily trading volume on the TecDAX and MDAX indices also saw a rise of respectively 82 % and 19 %. At the end of 2019, MorphoSys ranked 9th in the TecDAX in terms of market capitalization* (2018: 10th) and 11th in terms of trading volume (2018: 14th). In the MDAX, MorphoSys shares ranked 55th in terms of market capitalization (2018: 59th) and 57th in terms of trading volume (2018: 65th; the rank refers to DAX (30) and MDAX (60) companies).
On alternative trading platforms (“dark pools”), the average daily trading volume in MorphoSys shares amounted to approximately 196,000 shares, valued at € 19.1 million in 2019 (2018: approximately 173,000 shares valued at € 16.2 million), representing a year-on-year increase of around 17 %.