Organogenesis (NASDAQ:ORGO) Trading 3.5% Higher – Time to Buy?

Organogenesis Holdings Inc. (NASDAQ:ORGO)’s share price shot up 3.5% during trading on Tuesday . The company traded as high as $5.08 and last traded at $5.15. 148,169 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,070,616 shares. The stock had previously closed at $4.97.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their price objective on Organogenesis from $4.00 to $6.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th.

Organogenesis Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.74 and a current ratio of 3.09. The stock has a market cap of $643.65 million, a P/E ratio of -84.42 and a beta of 1.66. The firm has a 50-day moving average price of $3.89 and a 200-day moving average price of $3.45.

Insider Buying and Selling

In other news, Director Michael Joseph Driscoll sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $5.10, for a total transaction of $127,500.00. Following the sale, the director now owns 166,879 shares in the company, valued at $851,082.90. This represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 36.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Organogenesis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORGO. Metis Global Partners LLC purchased a new position in shares of Organogenesis in the third quarter worth $84,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Organogenesis by 5.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 471,240 shares of the company’s stock valued at $1,348,000 after acquiring an additional 24,878 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Organogenesis in the third quarter worth approximately $43,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Organogenesis by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 948,451 shares of the company’s stock valued at $2,713,000 after purchasing an additional 23,675 shares during the last quarter. Finally, FMR LLC lifted its position in Organogenesis by 34.2% during the third quarter. FMR LLC now owns 173,595 shares of the company’s stock valued at $496,000 after purchasing an additional 44,199 shares during the period. 49.57% of the stock is owned by institutional investors.

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.