Assenagon Asset Management S.A. Acquires 680,392 Shares of Organogenesis $ORGO

Assenagon Asset Management S.A. raised its stake in shares of Organogenesis (NASDAQ:ORGO) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,535,334 shares of the company’s stock after purchasing an additional 680,392 shares during the quarter. Assenagon Asset Management S.A. owned 4.36% of Organogenesis worth $28,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. First Light Asset Management LLC bought a new stake in Organogenesis during the second quarter worth about $24,804,000. Bank of America Corp DE raised its stake in shares of Organogenesis by 27.2% in the third quarter. Bank of America Corp DE now owns 611,685 shares of the company’s stock valued at $2,581,000 after acquiring an additional 130,875 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Organogenesis by 477.4% in the third quarter. Voya Investment Management LLC now owns 115,259 shares of the company’s stock valued at $486,000 after acquiring an additional 95,296 shares during the last quarter. Mink Brook Asset Management LLC acquired a new position in shares of Organogenesis in the 2nd quarter worth approximately $340,000. Finally, State of Wyoming acquired a new position in shares of Organogenesis in the 2nd quarter worth approximately $319,000. 49.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. BTIG Research lowered their price objective on shares of Organogenesis from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Organogenesis from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Weiss Ratings raised shares of Organogenesis from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Organogenesis Stock Up 1.2%

Shares of NASDAQ ORGO opened at $2.44 on Thursday. Organogenesis has a 1 year low of $2.31 and a 1 year high of $7.08. The firm’s 50-day moving average is $3.42 and its 200-day moving average is $4.31. The company has a current ratio of 3.62, a quick ratio of 3.32 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $313.88 million, a PE ratio of 30.50 and a beta of 1.43.

Organogenesis (NASDAQ:ORGO) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. Organogenesis had a net margin of 5.32% and a return on equity of 21.41%. The business had revenue of $225.61 million during the quarter, compared to the consensus estimate of $172.68 million. Equities analysts expect that Organogenesis will post -0.07 EPS for the current year.

Insider Activity at Organogenesis

In related news, Director Michael Joseph Driscoll purchased 10,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were bought at an average price of $2.67 per share, with a total value of $26,700.00. Following the purchase, the director directly owned 225,707 shares in the company, valued at $602,637.69. This trade represents a 4.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 33.00% of the company’s stock.

Organogenesis Profile

Organogenesis Inc operates as a regenerative medicine company focused on the development, manufacturing and commercialization of therapeutic solutions for wound care, surgical repair and sports medicine. The company’s product portfolio addresses a range of acute and chronic tissue repair needs, leveraging bioengineered skin substitutes, human placental-derived products and other allografts designed to promote healing and reduce scarring. Organogenesis markets its therapies to hospitals, outpatient clinics, wound care centers and other healthcare providers.

Key offerings include Apligraf, a living skin substitute for treatment of diabetic foot ulcers and venous leg ulcers; Dermagraft, a cryopreserved human fibroblast-derived dermal substitute; Grafix, a placental membrane allograft for complex and chronic wounds; and TheraSkin, a cryopreserved human skin allograft used in surgical and reconstructive procedures.