Organogenesis (NASDAQ:ORGO) Trading Up 8.5% – Here’s What Happened

Organogenesis (NASDAQ:ORGO) shares traded up 8.5% on Thursday . The company traded as high as $5.67 and last traded at $5.7190. 301,220 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,448,313 shares. The stock had previously closed at $5.27.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ORGO shares. Wall Street Zen raised Organogenesis from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 8th. BTIG Research restated a “buy” rating and issued a $9.00 price objective on shares of Organogenesis in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organogenesis in a report on Monday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

Organogenesis Price Performance

The firm has a market cap of $717.68 million, a price-to-earnings ratio of -47.04 and a beta of 1.47. The stock’s 50 day simple moving average is $4.81 and its 200-day simple moving average is $4.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.88 and a current ratio of 3.32.

Organogenesis (NASDAQ:ORGO) last released its earnings results on Thursday, November 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The business had revenue of $150.86 million during the quarter, compared to analysts’ expectations of $134.10 million. Organogenesis had a negative net margin of 1.30% and a positive return on equity of 4.01%. Equities research analysts anticipate that Organogenesis will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Glenn H. Nussdorf sold 187,957 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $5.29, for a total transaction of $994,292.53. Following the completion of the sale, the director owned 2,765,591 shares in the company, valued at $14,629,976.39. This represents a 6.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 300,000 shares of company stock valued at $1,592,120. 33.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Organogenesis

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Organogenesis in the third quarter worth about $25,000. State of Alaska Department of Revenue bought a new position in shares of Organogenesis during the 3rd quarter worth about $25,000. Farther Finance Advisors LLC acquired a new stake in shares of Organogenesis during the 2nd quarter worth approximately $35,000. Ground Swell Capital LLC acquired a new stake in Organogenesis during the second quarter worth $39,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in shares of Organogenesis in the 3rd quarter valued at $51,000. 49.57% of the stock is currently owned by institutional investors and hedge funds.

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.