Organogenesis (NASDAQ:ORGO) Trading Up 4.3% – Here’s Why

Shares of Organogenesis (NASDAQ:ORGO) shot up 4.3% during trading on Thursday . The company traded as high as $2.45 and last traded at $2.44. 681,845 shares were traded during trading, a decline of 16% from the average session volume of 814,458 shares. The stock had previously closed at $2.34.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BTIG Research downgraded shares of Organogenesis from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Truist Financial began coverage on shares of Organogenesis in a report on Thursday, May 28th. They set a “hold” rating and a $3.00 target price on the stock. UBS Group set a $3.00 target price on Organogenesis in a research report on Thursday, May 28th. Wall Street Zen lowered Organogenesis from a “buy” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings lowered Organogenesis from a “hold (c)” rating to a “sell (d)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.75.

Organogenesis Stock Performance

The company has a 50-day moving average price of $2.46 and a two-hundred day moving average price of $3.36. The stock has a market capitalization of $313.98 million, a P/E ratio of -12.84 and a beta of 1.32. The company has a quick ratio of 3.16, a current ratio of 3.53 and a debt-to-equity ratio of 0.05.

Organogenesis (NASDAQ:ORGO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08). Organogenesis had a negative net margin of 0.84% and a positive return on equity of 9.63%. The firm had revenue of $37.23 million during the quarter, compared to the consensus estimate of $43.26 million.

Institutional Trading of Organogenesis

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC bought a new position in Organogenesis in the 2nd quarter valued at $24,804,000. Norges Bank bought a new position in shares of Organogenesis in the fourth quarter worth $5,686,000. Assenagon Asset Management S.A. raised its position in shares of Organogenesis by 14.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,535,334 shares of the company’s stock worth $28,673,000 after buying an additional 680,392 shares in the last quarter. Flax Pond Capital LLC purchased a new stake in shares of Organogenesis in the fourth quarter worth $2,197,000. Finally, Millennium Management LLC boosted its stake in Organogenesis by 481.2% during the fourth quarter. Millennium Management LLC now owns 483,742 shares of the company’s stock valued at $2,506,000 after buying an additional 400,514 shares during the period. 49.57% of the stock is currently owned by hedge funds and other institutional investors.

About Organogenesis

Organogenesis Inc operates as a regenerative medicine company focused on the development, manufacturing and commercialization of therapeutic solutions for wound care, surgical repair and sports medicine. The company’s product portfolio addresses a range of acute and chronic tissue repair needs, leveraging bioengineered skin substitutes, human placental-derived products and other allografts designed to promote healing and reduce scarring. Organogenesis markets its therapies to hospitals, outpatient clinics, wound care centers and other healthcare providers.

Key offerings include Apligraf, a living skin substitute for treatment of diabetic foot ulcers and venous leg ulcers; Dermagraft, a cryopreserved human fibroblast-derived dermal substitute; Grafix, a placental membrane allograft for complex and chronic wounds; and TheraSkin, a cryopreserved human skin allograft used in surgical and reconstructive procedures.