Organogenesis Holdings Inc (NASDAQ:ORGO) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 302,100 shares, a drop of 8.6% from the April 30th total of 330,500 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 83,300 shares, the days-to-cover ratio is presently 3.6 days.
Several equities research analysts have recently issued reports on ORGO shares. ValuEngine raised Organogenesis from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Zacks Investment Research raised Organogenesis from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Thursday, March 12th. Credit Suisse Group reissued a “buy” rating on shares of Organogenesis in a research note on Tuesday, March 10th. Oppenheimer started coverage on Organogenesis in a research note on Tuesday, May 12th. They set a “buy” rating and a $8.00 price target for the company. Finally, BTIG Research decreased their price target on Organogenesis from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $6.85.
In other news, Director Avista Capital Managing Member purchased 542,349 shares of the business’s stock in a transaction on Monday, March 16th. The stock was acquired at an average price of $3.92 per share, for a total transaction of $2,126,008.08. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 70.40% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Prosight Management LP increased its holdings in shares of Organogenesis by 8.8% in the 1st quarter. Prosight Management LP now owns 672,275 shares of the company’s stock valued at $2,171,000 after acquiring an additional 54,439 shares during the period. BlackRock Inc. increased its holdings in shares of Organogenesis by 3.7% in the 1st quarter. BlackRock Inc. now owns 651,085 shares of the company’s stock valued at $2,103,000 after acquiring an additional 23,052 shares during the period. Granahan Investment Management Inc. MA increased its holdings in shares of Organogenesis by 14.4% in the 1st quarter. Granahan Investment Management Inc. MA now owns 285,990 shares of the company’s stock valued at $924,000 after acquiring an additional 35,990 shares during the period. Geode Capital Management LLC increased its holdings in shares of Organogenesis by 21.9% in the 1st quarter. Geode Capital Management LLC now owns 242,105 shares of the company’s stock valued at $781,000 after acquiring an additional 43,526 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Organogenesis in the 4th quarter valued at $962,000. Institutional investors and hedge funds own 3.90% of the company’s stock.
NASDAQ ORGO traded down $0.04 on Friday, reaching $3.34. 79,675 shares of the stock traded hands, compared to its average volume of 64,577. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.55 and a current ratio of 2.03. The company has a fifty day moving average price of $3.37 and a 200-day moving average price of $4.52. The company has a market cap of $358.64 million and a price-to-earnings ratio of -7.77. Organogenesis has a 12 month low of $2.47 and a 12 month high of $8.35.
Organogenesis (NASDAQ:ORGO) last issued its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). The firm had revenue of $61.73 million for the quarter, compared to the consensus estimate of $61.30 million. Organogenesis had a negative net margin of 15.48% and a negative return on equity of 124.66%. As a group, research analysts anticipate that Organogenesis will post -0.69 earnings per share for the current fiscal year.
Organogenesis Holdings Inc, a regenerative medicine company, focuses on the development, manufacture, and commercialization of solutions for the advanced wound care, and surgical and sports medicine markets primarily in the United States. The company's advanced wound care products include Apligraf for the treatment of venous leg ulcers and diabetic foot ulcers (DFUs); Dermagraft for treating DFUs; PuraPly AM to address biofilm across a range of wound types; and Affinity and NuShield to address various wound sizes and types.
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