Organogenesis Holdings Inc. (NASDAQ:ORGO) shares are up during Wednesday’s premarket session following positive news regarding a clinical trial for PuraPly AM, which demonstrated statistically significant wound closure for diabetic foot ulcers.

Wound closure at 12 weeks was a key highlight, indicating the product’s efficacy.

PuraPly AM Trial Win

The trial results showed that PuraPly AM, when combined with standard care, outperformed standard care alone in managing diabetic foot ulcers.

Additionally, the company has completed a Type-B meeting with the FDA, confirming plans to initiate a rolling Biologics License Application for ReNu by the end of December.

Organogenesis at $2.31; RSI 26.22 Oversold

At $2.31, the stock is trading 5.2% below its 20-day simple moving average (SMA) and 27.3% below its 50-day SMA, suggesting a bearish short-term trend.

The stock’s position relative to these moving averages indicates that it is struggling to gain upward momentum, which may concern traders looking for a reversal.

The relative strength index (RSI) currently sits at 26.22, indicating that the stock is oversold and may be due for a rebound. This level suggests that there could be potential buying opportunities if momentum shifts.

  • Key Resistance: $2.50 — A level where selling pressure has historically emerged.
  • Key Support: $2.21 — A critical level that could indicate further downside if breached.

The stock has experienced a 12-month return of -38.92%, reflecting a significant decline over the past year.

ORGO Stock Price Activity: Organogenesis Holdings shares were up 2.21% at $2.31 during premarket trading on Wednesday, according to Benzinga Pro data.

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