Organogenesis $ORGO Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Organogenesis (NASDAQ:ORGO) by 64.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,967,952 shares of the company’s stock after selling 3,567,382 shares during the period. Assenagon Asset Management S.A.’s holdings in Organogenesis were worth $4,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Light Asset Management LLC grew its stake in shares of Organogenesis by 10.6% in the third quarter. First Light Asset Management LLC now owns 7,497,911 shares of the company’s stock valued at $31,641,000 after buying an additional 720,748 shares in the last quarter. Deutsche Bank AG grew 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 valued at $17,082,000 after acquiring an additional 13,301 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Organogenesis by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,786,978 shares of the company’s stock valued at $9,259,000 after acquiring an additional 62,346 shares in the last quarter. Norges Bank purchased a new stake in shares of Organogenesis during the fourth quarter worth about $5,686,000. Finally, SG Americas Securities LLC lifted its stake in shares of Organogenesis by 39.8% in the first quarter. SG Americas Securities LLC now owns 790,766 shares of the company’s stock worth $1,874,000 after acquiring an additional 225,265 shares in the last quarter. Institutional investors and hedge funds own 49.57% of the company’s stock.

Organogenesis Trading Down 0.4%

NASDAQ:ORGO opened at $2.42 on Tuesday. Organogenesis has a 12-month low of $2.04 and a 12-month high of $7.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.53 and a quick ratio of 3.16. The business has a 50 day simple moving average of $2.46 and a 200 day simple moving average of $3.24. The firm has a market capitalization of $311.41 million, a P/E ratio of -12.74 and a beta of 1.32.

Organogenesis (NASDAQ:ORGO) last posted its earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share (EPS) 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 company had revenue of $37.23 million during the quarter, compared to the consensus estimate of $43.26 million.

Wall Street Analyst Weigh In

Several research firms have issued reports on ORGO. Wall Street Zen upgraded Organogenesis from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. UBS Group set a $3.00 target price on Organogenesis in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Organogenesis from a “hold (c)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Truist Financial assumed coverage on shares of Organogenesis in a report on Thursday, May 28th. They issued a “hold” rating and a $3.00 price target on the stock. Finally, BTIG Research lowered shares of Organogenesis from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.75.

Organogenesis Company Profile

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.