Organogenesis (NASDAQ:ORGO) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Organogenesis (NASDAQ:ORGO) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $7.00 price target on the stock.

Organogenesis Trading Up 2.8%

NASDAQ:ORGO traded up $0.12 on Tuesday, hitting $4.48. The company had a trading volume of 32,416 shares, compared to its average volume of 1,141,333. The firm has a 50 day moving average of $3.44 and a two-hundred day moving average of $3.89. The stock has a market capitalization of $568.29 million, a price-to-earnings ratio of -26.24 and a beta of 1.70. Organogenesis has a 52 week low of $2.28 and a 52 week high of $6.71.

Organogenesis (NASDAQ:ORGO) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.17). Organogenesis had a negative net margin of 3.46% and a negative return on equity of 4.00%. The business had revenue of $86.69 million for the quarter, compared to the consensus estimate of $90.77 million. As a group, equities analysts forecast that Organogenesis will post -0.07 EPS for the current year.

Insider Buying and Selling

In other news, insider Lori Freedman acquired 9,022 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was purchased at an average price of $2.99 per share, for a total transaction of $26,975.78. Following the purchase, the insider owned 846,459 shares in the company, valued at approximately $2,530,912.41. This represents a 1.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have bought 252,264 shares of company stock valued at $725,732. Company insiders own 33.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in shares of Organogenesis during the 2nd quarter worth $35,000. Assenagon Asset Management S.A. boosted its position in Organogenesis by 748.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,857,904 shares of the company’s stock valued at $10,460,000 after acquiring an additional 2,520,941 shares in the last quarter. Strs Ohio purchased a new position in shares of Organogenesis in the 1st quarter valued at approximately $105,000. Driehaus Capital Management LLC purchased a new stake in Organogenesis in the first quarter worth about $7,756,000. Finally, Trexquant Investment LP purchased a new stake in Organogenesis in the first quarter worth about $516,000. 49.57% of the stock is currently owned by hedge funds and other 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.