Short Interest in Organogenesis Holdings Inc. (NASDAQ:ORGO) Declines By 16.5%

Organogenesis Holdings Inc. (NASDAQ:ORGO) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 11,680,000 shares, a decrease of 16.5% from the August 31st total of 13,990,000 shares. Based on an average trading volume of 723,500 shares, the days-to-cover ratio is currently 16.1 days. Currently, 15.0% of the shares of the stock are short sold.

Organogenesis Stock Up 2.5 %

Shares of NASDAQ:ORGO opened at $2.89 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.42 and a debt-to-equity ratio of 0.22. The firm has a market cap of $383.13 million, a price-to-earnings ratio of 72.27 and a beta of 1.62. The stock’s 50-day moving average price is $2.79 and its two-hundred day moving average price is $2.74. Organogenesis has a 12-month low of $1.96 and a 12-month high of $4.70.

Organogenesis (NASDAQ:ORGO) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.11). Organogenesis had a negative return on equity of 6.03% and a negative net margin of 3.69%. The company had revenue of $130.23 million during the quarter, compared to analyst estimates of $122.48 million. On average, research analysts forecast that Organogenesis will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital began coverage on shares of Organogenesis in a research note on Friday, June 28th. They issued a “buy” rating and a $5.00 target price for the company.

Institutional Trading of Organogenesis

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in Organogenesis by 1,350.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 94,705 shares of the company’s stock worth $265,000 after purchasing an additional 88,175 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Organogenesis by 46.1% in the 2nd quarter. Mackenzie Financial Corp now owns 24,328 shares of the company’s stock valued at $68,000 after acquiring an additional 7,678 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Organogenesis by 15.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,984 shares of the company’s stock valued at $87,000 after acquiring an additional 4,130 shares in the last quarter. AQR Capital Management LLC boosted its position in Organogenesis by 76.9% during the 2nd quarter. AQR Capital Management LLC now owns 2,268,760 shares of the company’s stock worth $6,353,000 after purchasing an additional 986,132 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Organogenesis by 80.9% in the 2nd quarter. Squarepoint Ops LLC now owns 91,034 shares of the company’s stock valued at $255,000 after purchasing an additional 40,710 shares in the last quarter. 49.57% of the stock is currently owned by institutional investors and hedge funds.

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.