Organogenesis (NASDAQ:ORGO) Trading 7.4% Higher - Here's What Happened

Organogenesis (NASDAQ:ORGO - Get Free Report)'s stock price rose 7.4% on Thursday . The company traded as high as $4.25 and last traded at $4.35. Approximately 493,581 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,152,131 shares. The stock had previously closed at $4.05.

Organogenesis Trading Up 7.4%

The firm's 50 day moving average is $3.57 and its two-hundred day moving average is $3.81. The firm has a market cap of $551.80 million, a P/E ratio of -25.59 and a beta of 1.70.

Organogenesis (NASDAQ:ORGO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.17). The firm had revenue of $86.69 million during the quarter, compared to the consensus estimate of $90.77 million. Organogenesis had a negative net margin of 3.46% and a negative return on equity of 4.00%. Analysts predict that Organogenesis will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Organogenesis

In other Organogenesis news, insider Lori Freedman bought 142,379 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of $2.91 per share, with a total value of $414,322.89. Following the purchase, the insider owned 837,437 shares in the company, valued at $2,436,941.67. This trade represents a 20.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders bought 252,264 shares of company stock worth $725,732. Insiders own 33.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in Organogenesis in the 4th quarter valued at $38,000. Merit Financial Group LLC bought a new stake in shares of Organogenesis in the first quarter valued at about $45,000. ProShare Advisors LLC boosted its position in shares of Organogenesis by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 20,329 shares of the company's stock worth $65,000 after buying an additional 6,689 shares during the period. Victory Capital Management Inc. bought a new position in shares of Organogenesis during the first quarter worth about $67,000. Finally, Algert Global LLC acquired a new stake in Organogenesis in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 49.57% of the company's stock.

Organogenesis Company Profile

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.