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

Organogenesis (NASDAQ:ORGO - Get Free Report)'s stock price gapped up before the market opened 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 Stock Down 3.7%

The business's 50 day moving average is $3.54 and its two-hundred day moving average is $3.84. The firm has a market cap of $565.75 million, a P/E ratio of -26.24 and a beta of 1.70.

Organogenesis (NASDAQ:ORGO - Get Free Report) last announced 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). Organogenesis had a negative return on equity of 4.00% and a negative net margin of 3.46%. The firm had revenue of $86.69 million for the quarter, compared to the consensus estimate of $90.77 million. Equities research analysts anticipate that Organogenesis will post -0.07 EPS for the current year.

Insiders Place Their Bets

In related news, insider Lori Freedman purchased 9,022 shares of the firm's stock in a transaction on Friday, June 6th. The stock was purchased at an average cost of $2.99 per share, with a total value of $26,975.78. Following the completion of the purchase, the insider owned 846,459 shares in the company, valued at approximately $2,530,912.41. This trade represents a 1.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 252,264 shares of company stock valued at $725,732 over the last ninety days. Insiders own 33.00% of the company's stock.

Institutional Investors Weigh In On Organogenesis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Soleus Capital Management L.P. increased its stake in Organogenesis by 5.4% in the fourth quarter. Soleus Capital Management L.P. now owns 12,484,876 shares of the company's stock valued at $39,952,000 after purchasing an additional 645,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Organogenesis by 23.4% during the first 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Organogenesis by 18.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,789,265 shares of the company's stock valued at $8,925,000 after buying an additional 442,772 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Organogenesis during the first quarter valued at about $7,756,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Organogenesis by 31.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,073,500 shares of the company's stock valued at $3,435,000 after buying an additional 255,600 shares during the last quarter. 49.57% of the stock is owned by institutional investors.

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.