Organogenesis (NASDAQ:ORGO) Stock Price Down 5.8% – Should You Sell?

Shares of Organogenesis Holdings Inc. (NASDAQ:ORGO) dropped 5.8% during trading on Wednesday . The stock traded as low as $5.02 and last traded at $4.92. Approximately 202,237 shares were traded during trading, a decline of 81% from the average daily volume of 1,088,569 shares. The stock had previously closed at $5.22.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised their target price on Organogenesis from $4.00 to $6.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th.

Organogenesis Stock Performance

The business has a fifty day moving average price of $4.13 and a 200-day moving average price of $3.55. The stock has a market capitalization of $605.60 million, a P/E ratio of -79.75 and a beta of 1.66. The company has a quick ratio of 2.74, a current ratio of 3.09 and a debt-to-equity ratio of 0.21.

Insider Transactions at Organogenesis

In related news, Director Michael Joseph Driscoll sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $5.10, for a total transaction of $127,500.00. Following the completion of the sale, the director now owns 166,879 shares in the company, valued at approximately $851,082.90. This represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 36.90% of the company’s stock.

Institutional Investors Weigh In On Organogenesis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Organogenesis by 16.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,159 shares of the company’s stock worth $125,000 after buying an additional 5,551 shares during the period. Millennium Management LLC grew its stake in Organogenesis by 2.8% during the 4th quarter. Millennium Management LLC now owns 208,420 shares of the company’s stock worth $667,000 after buying an additional 5,765 shares during the last quarter. 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 valued at $65,000 after buying an additional 6,689 shares in the last quarter. Rhumbline Advisers raised its stake in Organogenesis by 7.1% in the fourth quarter. Rhumbline Advisers now owns 115,266 shares of the company’s stock valued at $369,000 after buying an additional 7,621 shares during the last quarter. Finally, State Street Corp boosted its holdings in Organogenesis by 0.6% in the third quarter. State Street Corp now owns 1,459,767 shares of the company’s stock worth $4,175,000 after acquiring an additional 9,090 shares in the last quarter. 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.