Organovo (ONVO) Trading Down 5.9%

Organovo Holdings Inc (NASDAQ:ONVO) traded down 5.9% during mid-day trading on Thursday . The stock traded as low as $1.10 and last traded at $1.12. 1,066,213 shares were traded during trading, an increase of 6% from the average session volume of 1,006,821 shares. The stock had previously closed at $1.19.

Separately, Zacks Investment Research lowered shares of Organovo from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Organovo presently has an average rating of “Hold” and an average price target of $3.40.

How to Become a New Pot Stock Millionaire

The stock has a market cap of $125.25, a PE ratio of -2.87 and a beta of 2.77.

Organovo (NASDAQ:ONVO) last announced its earnings results on Thursday, February 8th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $1.15 million during the quarter, compared to analyst estimates of $1.25 million. Organovo had a negative net margin of 881.93% and a negative return on equity of 69.03%. Organovo’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. research analysts anticipate that Organovo Holdings Inc will post -0.33 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co bought a new stake in shares of Organovo in the 4th quarter worth approximately $130,000. Millennium Management LLC bought a new stake in shares of Organovo in the 4th quarter worth approximately $269,000. Anson Funds Management LP bought a new stake in shares of Organovo in the 4th quarter worth approximately $281,000. Penbrook Management LLC bought a new stake in shares of Organovo in the 4th quarter worth approximately $361,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Organovo by 57.1% in the 4th quarter. Bank of New York Mellon Corp now owns 669,508 shares of the medical research company’s stock worth $898,000 after acquiring an additional 243,397 shares during the last quarter. Hedge funds and other institutional investors own 24.85% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Week Herald and is the property of of Week Herald. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://weekherald.com/2018/04/19/organovo-onvo-trading-down-5-9.html.

Organovo Company Profile

Organovo Holdings, Inc is an early commercial-stage company focused on developing and commercializing functional human tissues. The Company focuses on the generation of three-dimensional (3D) human tissues, by utilizing its platform technology to create human tissue constructs in 3D. It is focused on development of products, including 3D human tissues used for the preclinical assessment of drug effects, including applications in predictive toxicology, absorption, distribution, metabolism, excretion (ADME), and drug metabolism and pharmacokinetics (DMPK); customized human tissues as living, dynamic models of human biology or disease, for use in drug discovery and development, and three-dimensional human tissues for clinical applications, such as blood vessels for bypass grafting, nerve grafts for nerve damage repair and functional tissue patches for the repair or replacement of damaged tissues and organs.

Receive News & Ratings for Organovo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organovo and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply