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

Organogenesis (NASDAQ:ORGO - Get Free Report)'s share price rose 7.4% during mid-day trading 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 Stock Up 7.4%

The firm has a market capitalization of $551.81 million, a price-to-earnings ratio of -25.59 and a beta of 1.70. The company's 50 day moving average is $3.57 and its 200 day moving average is $3.82.

Organogenesis (NASDAQ:ORGO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share (EPS) 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 business had revenue of $86.69 million for the quarter, compared to analyst estimates of $90.77 million. On average, analysts expect that Organogenesis will post -0.07 EPS for the current year.

Insiders Place Their Bets

In related news, insider Lori Freedman bought 142,379 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $2.91 per share, for a total transaction of $414,322.89. Following the transaction, the insider owned 837,437 shares in the company, valued at $2,436,941.67. The trade was a 20.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 252,264 shares of company stock valued at $725,732. 33.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its holdings in Organogenesis by 7.1% in the 4th quarter. Rhumbline Advisers now owns 115,266 shares of the company's stock valued at $369,000 after buying an additional 7,621 shares during the period. Bank of New York Mellon Corp raised its position in Organogenesis by 35.5% during the fourth quarter. Bank of New York Mellon Corp now owns 418,820 shares of the company's stock valued at $1,340,000 after purchasing an additional 109,762 shares in the last quarter. Virtu Financial LLC acquired a new position in Organogenesis during the fourth quarter valued at approximately $38,000. American Century Companies Inc. lifted its stake in Organogenesis by 10.4% during the fourth quarter. American Century Companies Inc. now owns 98,892 shares of the company's stock worth $316,000 after purchasing an additional 9,311 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Organogenesis by 92.9% in the 4th quarter. Prudential Financial Inc. now owns 237,720 shares of the company's stock valued at $761,000 after purchasing an additional 114,500 shares in the last quarter. 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.