Organogenesis (NASDAQ:ORGO) Shares Down 6.2% – Here’s What Happened

Organogenesis Holdings Inc. (NASDAQ:ORGO) shares dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $4.99 and last traded at $5.08. Approximately 988,595 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 1,055,866 shares. The stock had previously closed at $5.41.

Organogenesis Trading Down 6.8 %

The company has a quick ratio of 2.74, a current ratio of 3.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $633.66 million, a price-to-earnings ratio of -84.00 and a beta of 1.77. The company has a 50-day moving average price of $3.47 and a 200 day moving average price of $3.28.

Insiders Place Their Bets

In other Organogenesis news, CEO Gary S. Gillheeney sold 18,416 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $3.65, for a total value of $67,218.40. Following the completion of the sale, the chief executive officer now owns 3,400,778 shares in the company, valued at $12,412,839.70. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 278,116 shares of company stock worth $991,190. 36.90% of the stock is currently owned by company insiders.

Institutional Trading of Organogenesis

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Organogenesis by 107.8% in the third quarter. JPMorgan Chase & Co. now owns 205,943 shares of the company’s stock worth $589,000 after acquiring an additional 106,823 shares in the last quarter. Assenagon Asset Management S.A. raised 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 valued at $9,443,000 after purchasing an additional 1,035,120 shares in the last quarter. Verition Fund Management LLC lifted its position in Organogenesis by 542.8% in the third quarter. Verition Fund Management LLC now owns 78,690 shares of the company’s stock worth $225,000 after purchasing an additional 66,448 shares during the period. Barclays PLC lifted its position in Organogenesis by 251.7% in the third quarter. Barclays PLC now owns 94,809 shares of the company’s stock worth $271,000 after purchasing an additional 67,855 shares during the period. Finally, FMR LLC boosted its stake in Organogenesis by 34.2% during the third quarter. FMR LLC now owns 173,595 shares of the company’s stock worth $496,000 after buying an additional 44,199 shares in the last quarter. 49.57% of the stock is currently owned by hedge funds and other institutional investors.

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.