Organogenesis (NASDAQ:ORGO) Shares Down 5.8% – Here’s Why

Organogenesis Holdings Inc. (NASDAQ:ORGO)’s share price dropped 5.8% during mid-day trading on Wednesday . The company traded as low as $5.02 and last traded at $4.92. Approximately 202,237 shares were traded during trading, a decline of 81% from the average daily volume of 1,088,569 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

Separately, Morgan Stanley lifted their price objective on shares of Organogenesis from $4.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th.

Organogenesis Stock Down 0.6 %

The firm has a market capitalization of $592.29 million, a price-to-earnings ratio of -77.83 and a beta of 1.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.09 and a quick ratio of 2.74. The business has a fifty day moving average price of $4.19 and a two-hundred day moving average price of $3.56.

Insider Buying and Selling

In related news, Director Michael Joseph Driscoll sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $5.10, for a total transaction of $127,500.00. Following the completion of the transaction, the director now directly owns 166,879 shares in the company, valued at $851,082.90. The trade was a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 36.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Organogenesis

Institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors purchased a new stake in shares of Organogenesis in the third quarter worth about $36,000. Virtu Financial LLC acquired a new position in Organogenesis in the fourth quarter valued at approximately $38,000. Intech Investment Management LLC purchased a new stake in Organogenesis in the 3rd quarter worth approximately $43,000. Palumbo Wealth Management LLC acquired a new stake in shares of Organogenesis during the 4th quarter worth approximately $65,000. Finally, ProShare Advisors LLC increased its holdings in shares of Organogenesis by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 20,329 shares of the company’s stock valued at $65,000 after purchasing an additional 6,689 shares in the last quarter. Hedge funds and other institutional investors 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.