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

Organogenesis Holdings Inc. (NASDAQ:ORGO) shares were 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 mid-day trading, a decline of 69% from the average daily volume of 1,055,605 shares. The stock had previously closed at $5.04.

Insider Activity at Organogenesis

In other Organogenesis news, CEO Gary S. Gillheeney sold 18,416 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 3,400,778 shares in the company, valued at $12,412,839.70. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 278,116 shares of company stock worth $991,190. Insiders own 36.90% of the company’s stock.

Institutional Trading of Organogenesis

Several hedge funds and other institutional investors have recently modified their holdings of ORGO. Millennium Management LLC boosted its stake in Organogenesis by 2.8% in the 4th quarter. Millennium Management LLC now owns 208,420 shares of the company’s stock valued at $667,000 after purchasing an additional 5,765 shares during the period. ProShare Advisors LLC increased its position in Organogenesis by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 20,329 shares of the company’s stock worth $65,000 after buying an additional 6,689 shares during the period. Rhumbline Advisers lifted its holdings in shares of Organogenesis by 7.1% during the fourth quarter. Rhumbline Advisers now owns 115,266 shares of the company’s stock worth $369,000 after buying an additional 7,621 shares in the last quarter. State Street Corp boosted its position in shares of Organogenesis by 0.6% in the third quarter. State Street Corp now owns 1,459,767 shares of the company’s stock valued at $4,175,000 after acquiring an additional 9,090 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Organogenesis by 10.4% in the fourth quarter. American Century Companies Inc. now owns 98,892 shares of the company’s stock valued at $316,000 after acquiring an additional 9,311 shares in the last quarter. Institutional investors own 49.57% of the company’s stock.

Organogenesis Trading Up 19.2 %

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 business’s 50-day moving average is $3.56 and its 200 day moving average is $3.31. The firm has a market capitalization of $762.24 million, a P/E ratio of -100.17 and a beta of 1.66.

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.