Organogenesis (NASDAQ:ORGO) Shares Down 3.6% - What's Next?

Key Points

• Organogenesis shares fell 3.6% to $0.9932 in heavy trading, with volume 64% above the average session level. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is negative: the consensus rating is “Reduce”, with two Holds and one Sell, while Truist cut its price target from $3.00 to $2.00.
• The company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.71 per share versus an expected loss of $0.35 and revenue of $43.76 million versus estimates of $54.27 million.

Organogenesis (NASDAQ:ORGO - Get Free Report)'s share price dropped 3.6% during trading on Friday. The stock traded as low as $0.9330 and last traded at $0.9932. Approximately 1,338,803 shares were traded during trading, an increase of 64% from the average session volume of 815,558 shares. The stock had previously closed at $1.03.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Organogenesis from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Wall Street Zen raised shares of Organogenesis from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 19th. Finally, Truist Financial decreased their target price on shares of Organogenesis from $3.00 to $2.00 and set a "hold" rating for the company in a research report on Friday, August 7th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $4.33.

Organogenesis Stock Down 3.6%

The company has a market cap of $127.80 million, a price-to-earnings ratio of -1.15 and a beta of 1.27. The stock has a 50-day simple moving average of $1.45 and a 200-day simple moving average of $2.07. The company has a current ratio of 3.52, a quick ratio of 3.00 and a debt-to-equity ratio of 0.07.

Organogenesis (NASDAQ:ORGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.36). Organogenesis had a negative return on equity of 23.89% and a negative net margin of 19.94%. The company had revenue of $43.76 million during the quarter, compared to analyst estimates of $54.27 million.

Institutional Investors Weigh In On Organogenesis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORGO. BlackRock Inc. bought a new position in Organogenesis during the 2nd quarter valued at $17,616,000. Deutsche Bank AG acquired a new position in shares of Organogenesis during the 2nd quarter valued at $4,146,000. SG Americas Securities LLC raised its stake in shares of Organogenesis by 39.8% in the 1st quarter. SG Americas Securities LLC now owns 790,766 shares of the company's stock worth $1,874,000 after buying an additional 225,265 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Organogenesis in the 2nd quarter worth $1,368,000. Finally, Renaissance Technologies LLC raised its stake in shares of Organogenesis by 30.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,068,538 shares of the company's stock worth $2,532,000 after buying an additional 249,838 shares in the last quarter. Institutional investors own 49.57% of the company's stock.

About Organogenesis

Organogenesis Holdings Inc NASDAQ: ORGO is a regenerative medicine company that develops, manufactures and commercializes advanced products designed to help repair and restore damaged tissue. Its principal business areas are advanced wound care and surgical and sports medicine, with products intended for use by hospitals, wound-care centers, physicians and other health care providers.

The company's advanced wound-care portfolio includes Apligraf, a living cellular skin substitute used in the treatment of certain chronic wounds, as well as Dermagraft, PuraPly and other biologic and synthetic products.

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