Morgan Stanley Boosts Organogenesis (NASDAQ:ORGO) Price Target to $6.00

Organogenesis (NASDAQ:ORGO) had its price objective hoisted by Morgan Stanley from $4.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 7.39% from the stock’s current price.

Organogenesis Stock Up 10.9 %

ORGO opened at $5.59 on Wednesday. The stock’s fifty day moving average is $3.51 and its 200-day moving average is $3.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.74 and a current ratio of 3.09. Organogenesis has a one year low of $2.17 and a one year high of $6.71. The company has a market capitalization of $708.59 million, a PE ratio of -91.80 and a beta of 1.66.

Insiders Place Their Bets

In other news, CEO Gary S. Gillheeney sold 18,416 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $3.65, for a total transaction of $67,218.40. Following the completion of the sale, the chief executive officer now owns 3,400,778 shares in the company, valued at $12,412,839.70. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 278,116 shares of company stock worth $991,190. Corporate insiders own 36.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its holdings in Organogenesis by 2.8% during the 4th quarter. Millennium Management LLC now owns 208,420 shares of the company’s stock worth $667,000 after purchasing an additional 5,765 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Organogenesis by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 20,329 shares of the company’s stock worth $65,000 after acquiring an additional 6,689 shares during the last quarter. Rhumbline Advisers increased its position in shares of Organogenesis by 7.1% during the 4th quarter. Rhumbline Advisers now owns 115,266 shares of the company’s stock valued at $369,000 after purchasing an additional 7,621 shares during the last quarter. State Street Corp lifted its stake in shares of Organogenesis by 0.6% in the 3rd quarter. State Street Corp now owns 1,459,767 shares of the company’s stock valued at $4,175,000 after acquiring an additional 9,090 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Organogenesis by 10.4% during the fourth quarter. American Century Companies Inc. now owns 98,892 shares of the company’s stock valued at $316,000 after acquiring an additional 9,311 shares during the last quarter. 49.57% of the stock is currently owned by institutional investors and hedge funds.

Organogenesis Company Profile

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.