Assenagon Asset Management S.A. Buys 2,520,941 Shares of Organogenesis $ORGO

Key Points

• Assenagon Asset Management S.A. increased its stake in Organogenesis by 748.1% in the second quarter, acquiring over 2.5 million shares to own approximately 2.25% of the company, valued at $10.46 million.
• Analysts have set a new price target for Organogenesis, with Cantor Fitzgerald raising theirs from $7.00 to $9.00, and the company currently holds a consensus price target of $7.50.
• Organogenesis reported a loss of ($0.09) EPS for the last quarter, missing expectations, and had revenue of $101.01 million, below the anticipated $104.75 million.

Assenagon Asset Management S.A. increased its stake in Organogenesis (NASDAQ:ORGO - Free Report) by 748.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,857,904 shares of the company's stock after acquiring an additional 2,520,941 shares during the period. Assenagon Asset Management S.A. owned about 2.25% of Organogenesis worth $10,460,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ORGO. Driehaus Capital Management LLC purchased a new position in Organogenesis in the 1st quarter worth approximately $7,756,000. Invesco Ltd. boosted its position in Organogenesis by 779.7% during the 1st quarter. Invesco Ltd. now owns 1,069,252 shares of the company's stock valued at $4,619,000 after buying an additional 947,705 shares during the period. Vanguard Group Inc. boosted its position in Organogenesis by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 4,431,414 shares of the company's stock valued at $19,144,000 after buying an additional 841,618 shares during the period. SG Americas Securities LLC boosted its position in Organogenesis by 1,158.6% during the 1st quarter. SG Americas Securities LLC now owns 525,421 shares of the company's stock valued at $2,270,000 after buying an additional 483,675 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Organogenesis by 45.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 667,529 shares of the company's stock valued at $2,884,000 after buying an additional 208,038 shares during the period. 49.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ORGO shares. Cantor Fitzgerald upped their price objective on shares of Organogenesis from $7.00 to $9.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. BTIG Research restated a "buy" rating on shares of Organogenesis in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Organogenesis presently has an average rating of "Moderate Buy" and a consensus price target of $7.50.

Organogenesis Stock Up 0.8%

Shares of ORGO opened at $4.76 on Wednesday. The company has a market capitalization of $603.85 million, a P/E ratio of -34.00 and a beta of 1.75. The firm has a 50 day moving average of $4.76 and a 200 day moving average of $4.26. Organogenesis has a twelve month low of $2.61 and a twelve month high of $6.71.

Organogenesis (NASDAQ:ORGO - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The company had revenue of $101.01 million during the quarter, compared to analysts' expectations of $104.75 million. Organogenesis had a negative return on equity of 0.37% and a negative net margin of 1.92%. Organogenesis has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Organogenesis will post -0.07 EPS for the current year.

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.

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