Assenagon Asset Management S.A. Lowers Stock Holdings in Organogenesis (NASDAQ:ORGO)

Assenagon Asset Management S.A. lowered its position in Organogenesis (NASDAQ:ORGO) by 88.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 336,963 shares of the company’s stock after selling 2,613,886 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of Organogenesis worth $1,456,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ORGO. Virtu Financial LLC bought a new position in shares of Organogenesis in the fourth quarter worth about $38,000. Merit Financial Group LLC purchased a new position in Organogenesis in the 1st quarter worth approximately $45,000. ProShare Advisors LLC boosted its stake in Organogenesis by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 20,329 shares of the company’s stock worth $65,000 after purchasing an additional 6,689 shares during the period. Algert Global LLC purchased a new stake in Organogenesis during the 4th quarter valued at approximately $69,000. Finally, PDT Partners LLC bought a new stake in shares of Organogenesis during the fourth quarter valued at approximately $110,000. Hedge funds and other institutional investors own 49.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley boosted their target price on shares of Organogenesis from $4.00 to $6.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th.

Organogenesis Stock Down 3.4%

ORGO opened at $3.13 on Wednesday. The company has a market capitalization of $397.04 million, a PE ratio of -18.41 and a beta of 1.63. The firm has a 50-day simple moving average of $3.73 and a two-hundred day simple moving average of $3.82. Organogenesis has a 52 week low of $2.28 and a 52 week high of $6.71.

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

Insider Buying and Selling

In related news, insider Lori Freedman acquired 142,379 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were acquired at an average cost of $2.91 per share, for a total transaction of $414,322.89. Following the completion of the transaction, the insider now directly owns 837,437 shares in the company, valued at approximately $2,436,941.67. This trade represents a 20.48% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have acquired 252,264 shares of company stock worth $725,732. Insiders own 33.00% of the company’s stock.

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.