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

Organogenesis Holdings Inc. (NASDAQ:ORGO - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $6.21, but opened at $5.99. Organogenesis shares last traded at $6.18, with a volume of 1,898,657 shares changing hands.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their price target on shares of Organogenesis from $4.00 to $6.00 and gave the stock an "equal weight" rating in a research note on Wednesday.

Organogenesis Price Performance

The firm has a market capitalization of $715.31 million, a PE ratio of -94.00 and a beta of 1.66. The company has a current ratio of 3.09, a quick ratio of 2.74 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $3.56 and a two-hundred day moving average price of $3.31.

Insider Buying and Selling at Organogenesis

In other Organogenesis news, CEO Gary S. Gillheeney sold 18,416 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $3.65, for a total transaction of $67,218.40. Following the transaction, the chief executive officer now directly owns 3,400,778 shares of the company's stock, valued at approximately $12,412,839.70. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 278,116 shares of company stock worth $991,190. 36.90% of the stock is owned by insiders.

Remove Ads

Hedge Funds Weigh In On Organogenesis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors purchased a new stake in Organogenesis during the 3rd quarter valued at approximately $36,000. Virtu Financial LLC purchased a new stake in shares of Organogenesis during the fourth quarter worth approximately $38,000. Intech Investment Management LLC acquired a new stake in shares of Organogenesis during the third quarter worth $43,000. Palumbo Wealth Management LLC purchased a new position in Organogenesis in the 4th quarter valued at $65,000. Finally, ProShare Advisors LLC grew its position in Organogenesis by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 20,329 shares of the company's stock valued at $65,000 after buying an additional 6,689 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.