Organogenesis (NASDAQ:ORGO) Shares Gap Up - Here's What Happened

Organogenesis (NASDAQ:ORGO - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.25, but opened at $4.40. Organogenesis shares last traded at $4.39, with a volume of 161,863 shares.

Organogenesis Trading Down 2.3%

The company's fifty day moving average is $3.51 and its 200-day moving average is $3.86. The firm has a market capitalization of $545.46 million, a P/E ratio of -25.29 and a beta of 1.70.

Organogenesis (NASDAQ:ORGO - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.17). The firm had revenue of $86.69 million for the quarter, compared to analyst estimates of $90.77 million. Organogenesis had a negative return on equity of 4.00% and a negative net margin of 3.46%. On average, equities research analysts anticipate that Organogenesis will post -0.07 EPS for the current year.

Insider Transactions at Organogenesis

In other Organogenesis news, insider Lori Freedman purchased 9,022 shares of the company's stock in a transaction on Friday, June 6th. The shares were bought at an average cost of $2.99 per share, with a total value of $26,975.78. Following the transaction, the insider directly owned 846,459 shares in the company, valued at approximately $2,530,912.41. This represents a 1.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 252,264 shares of company stock valued at $725,732. Company insiders own 33.00% of the company's stock.

Institutional Investors Weigh In On Organogenesis

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Organogenesis by 10.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,398 shares of the company's stock valued at $187,000 after buying an additional 4,239 shares during the last quarter. Wells Fargo & Company MN increased its stake in Organogenesis by 29.6% during the fourth quarter. Wells Fargo & Company MN now owns 41,471 shares of the company's stock valued at $133,000 after acquiring an additional 9,464 shares during the period. Dimensional Fund Advisors LP raised its holdings in Organogenesis by 18.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,789,265 shares of the company's stock valued at $8,925,000 after acquiring an additional 442,772 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Organogenesis by 53.2% in the 4th quarter. Squarepoint Ops LLC now owns 126,791 shares of the company's stock worth $406,000 after acquiring an additional 44,051 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Organogenesis by 92.9% in the 4th quarter. Prudential Financial Inc. now owns 237,720 shares of the company's stock worth $761,000 after acquiring an additional 114,500 shares during the period. 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.