Organogenesis (NASDAQ:ORGO – Get Free Report)’s share price rose 4.3% during trading on Thursday . The stock traded as high as $2.45 and last traded at $2.44. Approximately 681,845 shares changed hands during trading, a decline of 16% from the average daily volume of 814,458 shares. The stock had previously closed at $2.34.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ORGO. UBS Group set a $3.00 target price on Organogenesis in a research note on Thursday, May 28th. BTIG Research lowered Organogenesis from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Weiss Ratings cut shares of Organogenesis from a “hold (c)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Truist Financial began coverage on shares of Organogenesis in a research report on Thursday, May 28th. They issued a “hold” rating and a $3.00 price objective on the stock. Finally, Wall Street Zen raised shares of Organogenesis from a “strong sell” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.75.
Get Our Latest Research Report on Organogenesis
Organogenesis Price Performance
Organogenesis (NASDAQ:ORGO – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08). Organogenesis had a negative net margin of 0.84% and a positive return on equity of 9.63%. The firm had revenue of $37.23 million for the quarter, compared to analysts’ expectations of $43.26 million.
Hedge Funds Weigh In On Organogenesis
A number of large investors have recently modified their holdings of the company. First Light Asset Management LLC boosted its stake in Organogenesis by 10.6% in the third quarter. First Light Asset Management LLC now owns 7,497,911 shares of the company’s stock worth $31,641,000 after buying an additional 720,748 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Organogenesis by 14.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,535,334 shares of the company’s stock worth $28,673,000 after acquiring an additional 680,392 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Organogenesis by 0.4% during the fourth quarter. Deutsche Bank AG now owns 3,297,631 shares of the company’s stock worth $17,082,000 after acquiring an additional 13,301 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Organogenesis by 5.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,891,006 shares of the company’s stock worth $6,851,000 after acquiring an additional 160,026 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Organogenesis by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,786,978 shares of the company’s stock worth $9,259,000 after acquiring an additional 62,346 shares during the last quarter. 49.57% of the stock is owned by hedge funds and other institutional investors.
About Organogenesis
Organogenesis Inc operates as a regenerative medicine company focused on the development, manufacturing and commercialization of therapeutic solutions for wound care, surgical repair and sports medicine. The company’s product portfolio addresses a range of acute and chronic tissue repair needs, leveraging bioengineered skin substitutes, human placental-derived products and other allografts designed to promote healing and reduce scarring. Organogenesis markets its therapies to hospitals, outpatient clinics, wound care centers and other healthcare providers.
Key offerings include Apligraf, a living skin substitute for treatment of diabetic foot ulcers and venous leg ulcers; Dermagraft, a cryopreserved human fibroblast-derived dermal substitute; Grafix, a placental membrane allograft for complex and chronic wounds; and TheraSkin, a cryopreserved human skin allograft used in surgical and reconstructive procedures.
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