First Light Asset Management LLC Sells 364,287 Shares of Organogenesis $ORGO

First Light Asset Management LLC trimmed its holdings in shares of Organogenesis (NASDAQ:ORGO) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,498,533 shares of the company’s stock after selling 364,287 shares during the quarter. First Light Asset Management LLC’s holdings in Organogenesis were worth $8,292,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Organogenesis in the third quarter worth about $25,000. Flagship Harbor Advisors LLC bought a new stake in Organogenesis during the fourth quarter worth approximately $34,000. Federated Hermes Inc. raised its position in Organogenesis by 52.8% during the fourth quarter. Federated Hermes Inc. now owns 8,541 shares of the company’s stock valued at $44,000 after purchasing an additional 2,953 shares during the period. Walleye Capital LLC purchased a new stake in Organogenesis during the second quarter valued at approximately $45,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Organogenesis in the 4th quarter valued at approximately $57,000. Institutional investors own 49.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ORGO shares. BTIG Research cut Organogenesis from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. UBS Group set a $3.00 price target on Organogenesis in a research report on Thursday, May 28th. Weiss Ratings lowered shares of Organogenesis from a “hold (c)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Organogenesis from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Truist Financial initiated coverage on shares of Organogenesis in a research report on Thursday, May 28th. They set a “hold” rating and a $3.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.75.

Organogenesis Price Performance

Shares of ORGO opened at $2.39 on Monday. The firm has a market capitalization of $307.55 million, a P/E ratio of -12.58 and a beta of 1.33. Organogenesis has a 12-month low of $2.04 and a 12-month high of $7.08. The company has a current ratio of 3.53, a quick ratio of 3.16 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $2.47 and a 200-day moving average price of $2.87.

Organogenesis (NASDAQ:ORGO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08). The company had revenue of $37.23 million during the quarter, compared to the consensus estimate of $43.26 million. Organogenesis had a positive return on equity of 9.63% and a negative net margin of 0.84%.

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.