Organogenesis (NASDAQ:ORGO) Stock Price Up 5.8% - Here's Why

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

Wall Street Analyst Weigh In

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

Organogenesis Price Performance

The stock has a market cap of $554.33 million, a price-to-earnings ratio of -25.71 and a beta of 1.70. The business's fifty day simple moving average is $3.47 and its 200 day simple moving average is $3.90.

Organogenesis (NASDAQ:ORGO - Get Free Report) last posted 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). The company 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%. As a group, equities analysts forecast 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 purchased 9,022 shares of the company's stock in a transaction on Friday, June 6th. The shares were purchased at an average cost of $2.99 per share, for a total transaction of $26,975.78. Following the completion of the transaction, the insider owned 846,459 shares in the company, valued at $2,530,912.41. The trade was a 1.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 252,264 shares of company stock worth $725,732 in the last quarter. 33.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Organogenesis

Several hedge funds and other institutional investors have recently bought and sold shares of ORGO. Wealth Enhancement Advisory Services LLC increased its stake in Organogenesis by 10.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,398 shares of the company's stock worth $187,000 after purchasing an additional 4,239 shares in the last quarter. CWM LLC increased its stake in Organogenesis by 8.9% in the 1st quarter. CWM LLC now owns 63,894 shares of the company's stock worth $276,000 after purchasing an additional 5,239 shares in the last quarter. Millennium Management LLC increased its stake in Organogenesis by 2.8% in the 4th quarter. Millennium Management LLC now owns 208,420 shares of the company's stock worth $667,000 after purchasing an additional 5,765 shares in the last quarter. ProShare Advisors LLC increased its stake in Organogenesis by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 20,329 shares of the company's stock worth $65,000 after purchasing an additional 6,689 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Organogenesis by 10.4% in the 4th 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 in the last quarter. 49.57% of the stock is currently 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.