Organogenesis (NASDAQ:ORGO) Shares Gap Down – Here’s Why

Organogenesis Holdings Inc. (NASDAQ:ORGO) shares gapped down before the market opened on Monday . The stock had previously closed at $6.21, but opened at $5.99. Organogenesis shares last traded at $6.18, with a volume of 1,898,657 shares traded.

Organogenesis Stock Performance

The company has a quick ratio of 2.74, a current ratio of 3.09 and a debt-to-equity ratio of 0.21. The stock has a market cap of $724.31 million, a P/E ratio of -95.92 and a beta of 1.77. The stock has a fifty day simple moving average of $3.42 and a 200-day simple moving average of $3.25.

Insider Activity at Organogenesis

In other Organogenesis news, CEO Gary S. Gillheeney sold 41,052 shares of Organogenesis stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $3.52, for a total transaction of $144,503.04. Following the transaction, the chief executive officer now directly owns 3,359,726 shares in the company, valued at approximately $11,826,235.52. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 278,116 shares of company stock worth $991,190. 36.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Organogenesis

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its stake in Organogenesis by 2.8% during the 4th quarter. Millennium Management LLC now owns 208,420 shares of the company’s stock worth $667,000 after purchasing an additional 5,765 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Organogenesis by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 20,329 shares of the company’s stock worth $65,000 after acquiring an additional 6,689 shares during the period. Rhumbline Advisers lifted its position in Organogenesis by 7.1% in the 4th quarter. Rhumbline Advisers now owns 115,266 shares of the company’s stock valued at $369,000 after acquiring an additional 7,621 shares in the last quarter. State Street Corp boosted its stake in Organogenesis by 0.6% in the 3rd quarter. State Street Corp now owns 1,459,767 shares of the company’s stock worth $4,175,000 after purchasing an additional 9,090 shares during the period. Finally, American Century Companies Inc. increased its holdings in Organogenesis by 10.4% during the 4th quarter. American Century Companies Inc. now owns 98,892 shares of the company’s stock worth $316,000 after purchasing an additional 9,311 shares in the last quarter. Institutional investors and hedge funds own 49.57% of the company’s stock.

About Organogenesis

Organogenesis Holdings Inc, a regenerative medicine company, develops, manufactures, and commercializes solutions for the advanced wound care, and surgical and sports medicine markets in the United States. The company's advanced wound care products include Affinity, an amniotic membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Novachor, a chorion membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Apligraf, a bioengineered living cell therapy that produce spectrum of cytokines and growth factors; Dermagraft, a bioengineered product that produces human collagen, ECM, proteins, cytokines, and growth factors; NuShield, dehydrated placental tissue covering amnion and chorion membranes for spongy/intermediate layer intact; and PuraPly AM, an antimicrobial barrier that enables conformability and fluid drainage.