Organogenesis (NASDAQ:ORGO) Shares Up 9.1% Following Analyst Upgrade

Organogenesis Holdings Inc. (NASDAQ:ORGO - Get Free Report)'s stock price was up 9.1% during trading on Wednesday after Morgan Stanley raised their price target on the stock from $4.00 to $6.00. Morgan Stanley currently has an equal weight rating on the stock. Organogenesis traded as high as $5.65 and last traded at $5.50. Approximately 322,446 shares changed hands during trading, a decline of 69% from the average daily volume of 1,055,605 shares. The stock had previously closed at $5.04.

Insider Transactions at Organogenesis

In other news, CEO Gary S. Gillheeney sold 157,448 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $3.64, for a total value of $573,110.72. Following the sale, the chief executive officer now owns 3,143,753 shares in the company, valued at $11,443,260.92. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Joseph Driscoll sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $5.10, for a total transaction of $127,500.00. Following the completion of the sale, the director now owns 166,879 shares in the company, valued at $851,082.90. The trade was a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 284,700 shares of company stock worth $1,051,472 over the last 90 days. 36.90% of the stock is currently owned by company insiders.

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Hedge Funds Weigh In On Organogenesis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORGO. Assenagon Asset Management S.A. lifted its stake in shares of Organogenesis by 54.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,950,849 shares of the company's stock worth $9,443,000 after buying an additional 1,035,120 shares in the last quarter. Soleus Capital Management L.P. lifted its stake in shares of Organogenesis by 5.4% in the fourth quarter. Soleus Capital Management L.P. now owns 12,484,876 shares of the company's stock worth $39,952,000 after buying an additional 645,000 shares in the last quarter. Norges Bank purchased a new position in shares of Organogenesis in the fourth quarter worth about $1,543,000. Dimensional Fund Advisors LP lifted its stake in shares of Organogenesis by 18.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,789,265 shares of the company's stock worth $8,925,000 after buying an additional 442,772 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Organogenesis by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,073,500 shares of the company's stock worth $3,435,000 after buying an additional 255,600 shares in the last quarter. 49.57% of the stock is owned by hedge funds and other institutional investors.

Organogenesis Trading Down 8.5 %

The company's 50 day moving average price is $3.65 and its two-hundred day moving average price is $3.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.09 and a quick ratio of 2.74. The stock has a market capitalization of $654.43 million, a PE ratio of -86.00 and a beta of 1.66.

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.