Organogenesis Holdings Inc (NASDAQ:ORGO) Short Interest Down 8.6% in May

Organogenesis Holdings Inc (NASDAQ:ORGO) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 302,100 shares, a decrease of 8.6% from the April 30th total of 330,500 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 83,300 shares, the days-to-cover ratio is presently 3.6 days.

ORGO has been the topic of several recent analyst reports. Oppenheimer initiated coverage on Organogenesis in a research report on Tuesday, May 12th. They set a “buy” rating and a $8.00 target price on the stock. BTIG Research cut their price objective on Organogenesis from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. ValuEngine upgraded Organogenesis from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. BidaskClub downgraded Organogenesis from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Finally, Credit Suisse Group restated a “buy” rating on shares of Organogenesis in a report on Tuesday, March 10th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $6.85.

In other Organogenesis news, Director Avista Capital Managing Member bought 542,349 shares of Organogenesis stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of $3.92 per share, for a total transaction of $2,126,008.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 70.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ORGO. Squarepoint Ops LLC boosted its position in Organogenesis by 31.1% during the 1st quarter. Squarepoint Ops LLC now owns 80,706 shares of the company’s stock valued at $261,000 after purchasing an additional 19,163 shares during the period. Morgan Stanley boosted its position in Organogenesis by 23.2% during the 1st quarter. Morgan Stanley now owns 18,461 shares of the company’s stock valued at $60,000 after purchasing an additional 3,473 shares during the period. Two Sigma Advisers LP boosted its position in Organogenesis by 71.4% during the 1st quarter. Two Sigma Advisers LP now owns 56,400 shares of the company’s stock valued at $182,000 after purchasing an additional 23,500 shares during the period. Prosight Management LP boosted its position in Organogenesis by 8.8% during the 1st quarter. Prosight Management LP now owns 672,275 shares of the company’s stock valued at $2,171,000 after purchasing an additional 54,439 shares during the period. Finally, Geode Capital Management LLC boosted its position in Organogenesis by 21.9% during the 1st quarter. Geode Capital Management LLC now owns 242,105 shares of the company’s stock valued at $781,000 after purchasing an additional 43,526 shares during the period. Institutional investors own 3.90% of the company’s stock.

Shares of NASDAQ:ORGO traded down $0.04 during mid-day trading on Friday, hitting $3.34. 79,675 shares of the company traded hands, compared to its average volume of 64,577. The firm has a market cap of $358.64 million and a P/E ratio of -7.77. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.55 and a current ratio of 2.03. Organogenesis has a 52-week low of $2.47 and a 52-week high of $8.35. The firm’s 50 day simple moving average is $3.37 and its 200 day simple moving average is $4.52.

Organogenesis (NASDAQ:ORGO) last announced its earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Organogenesis had a negative net margin of 15.48% and a negative return on equity of 124.66%. The company had revenue of $61.73 million for the quarter, compared to analysts’ expectations of $61.30 million. Equities research analysts expect that Organogenesis will post -0.69 EPS for the current fiscal year.

Organogenesis Company Profile

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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