Organogenesis (NASDAQ:ORGO) Trading 5.8% Higher - Here's What Happened

Organogenesis (NASDAQ:ORGO - Get Free Report)'s stock price was up 5.8% on Wednesday . The company traded as high as $4.26 and last traded at $4.27. Approximately 124,354 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,144,664 shares. The stock had previously closed at $4.03.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ORGO. BTIG Research reiterated a "buy" rating on shares of Organogenesis in a research note on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $7.00 price target on shares of Organogenesis in a research note on Tuesday.

Organogenesis Trading Up 10.9%

The company has a market cap of $567.02 million, a P/E ratio of -26.29 and a beta of 1.70. The stock's 50 day moving average is $3.46 and its 200-day moving average is $3.88.

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

Insiders Place Their Bets

In other Organogenesis news, insider Lori Freedman bought 142,379 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $2.91 per share, with a total value of $414,322.89. Following the transaction, the insider owned 837,437 shares in the company, valued at $2,436,941.67. This represents a 20.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 252,264 shares of company stock valued at $725,732. 33.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Organogenesis

A number of hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Organogenesis by 10.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,398 shares of the company's stock valued at $187,000 after purchasing an additional 4,239 shares during the last quarter. CWM LLC increased its position in shares of Organogenesis by 8.9% during the 1st quarter. CWM LLC now owns 63,894 shares of the company's stock valued at $276,000 after purchasing an additional 5,239 shares during the last quarter. Millennium Management LLC increased its position in shares of Organogenesis by 2.8% during the 4th quarter. Millennium Management LLC now owns 208,420 shares of the company's stock valued at $667,000 after purchasing an additional 5,765 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Organogenesis by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 20,329 shares of the company's stock valued at $65,000 after purchasing an additional 6,689 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Organogenesis by 10.4% during the 4th quarter. American Century Companies Inc. now owns 98,892 shares of the company's stock valued at $316,000 after purchasing an additional 9,311 shares during the last quarter. Hedge funds and other institutional investors 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.