State Street Corp boosted its holdings in shares of Organovo Holdings Inc (NASDAQ:ONVO) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,697,994 shares of the medical research company’s stock after purchasing an additional 150,837 shares during the quarter. State Street Corp’s holdings in Organovo were worth $4,463,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of Organovo by 34.0% in the first quarter. Bank of America Corp DE now owns 35,311 shares of the medical research company’s stock valued at $113,000 after purchasing an additional 8,967 shares during the last quarter. Voya Investment Management LLC increased its stake in Organovo by 18.8% during the second quarter. Voya Investment Management LLC now owns 52,032 shares of the medical research company’s stock worth $137,000 after acquiring an additional 8,225 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Organovo by 15.0% during the first quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the medical research company’s stock worth $218,000 after acquiring an additional 8,958 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in Organovo during the second quarter worth $196,000. Finally, Trent Capital Management Inc. NC acquired a new stake in Organovo during the second quarter worth $222,000. Institutional investors own 25.78% of the company’s stock.
Several research firms have issued reports on ONVO. Zacks Investment Research cut Organovo from a “buy” rating to a “hold” rating in a research note on Wednesday. BTIG Research restated a “buy” rating and set a $3.00 price target on shares of Organovo in a research report on Thursday, November 16th. Citigroup lowered Organovo to a “market perform” rating in a report on Friday, November 10th. Raymond James Financial cut Organovo from an “outperform” rating to a “market perform” rating and set a $5.00 price target on the stock. in a research note on Friday, November 10th. Finally, Jefferies Group restated a “buy” rating and issued a $4.00 price target on shares of Organovo in a research note on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $3.60.
Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Thursday, November 9th. The medical research company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The company had revenue of $1.36 million for the quarter, compared to analyst estimates of $1.38 million. Organovo had a negative return on equity of 65.63% and a negative net margin of 923.89%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. equities research analysts forecast that Organovo Holdings Inc will post -0.36 EPS for the current year.
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