Organogenesis Holdings Inc (NASDAQ:ORGO) Short Interest Update

Organogenesis Holdings Inc (NASDAQ:ORGO) was the target 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. Based on an average trading volume of 83,300 shares, the days-to-cover ratio is currently 3.6 days. Currently, 2.8% of the company’s stock are sold short.

Several research firms recently commented on ORGO. ValuEngine raised Organogenesis from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. BidaskClub lowered Organogenesis from a “hold” rating to a “sell” rating in a report on Friday, May 15th. SVB Leerink dropped their target price on Organogenesis from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Oppenheimer began coverage on shares of Organogenesis in a research note on Tuesday, May 12th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, BTIG Research decreased their price objective on shares of Organogenesis from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $6.85.

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

Organogenesis (NASDAQ:ORGO) last announced its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Organogenesis had a negative return on equity of 124.66% and a negative net margin of 15.48%. The business had revenue of $61.73 million for the quarter, compared to analyst estimates of $61.30 million. On average, equities research analysts forecast that Organogenesis will post -0.69 earnings per share for the current year.

In related news, Director Avista Capital Managing Member acquired 542,349 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were acquired at an average price of $3.92 per share, with a total value of $2,126,008.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 70.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ORGO. Prosight Management LP raised its holdings in Organogenesis by 8.8% during the first quarter. Prosight Management LP now owns 672,275 shares of the company’s stock worth $2,171,000 after purchasing an additional 54,439 shares in the last quarter. BlackRock Inc. raised its holdings in Organogenesis by 3.7% during the first quarter. BlackRock Inc. now owns 651,085 shares of the company’s stock worth $2,103,000 after purchasing an additional 23,052 shares in the last quarter. Granahan Investment Management Inc. MA raised its holdings in Organogenesis by 14.4% during the first quarter. Granahan Investment Management Inc. MA now owns 285,990 shares of the company’s stock worth $924,000 after purchasing an additional 35,990 shares in the last quarter. Geode Capital Management LLC increased its holdings in Organogenesis by 21.9% in the first quarter. Geode Capital Management LLC now owns 242,105 shares of the company’s stock valued at $781,000 after buying an additional 43,526 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in Organogenesis in the fourth quarter valued at about $962,000. Institutional investors and hedge funds own 3.90% of the company’s stock.

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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