Organovo Holdings Inc (ONVO) Expected to Post Earnings of -$0.08 Per Share

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Wall Street analysts forecast that Organovo Holdings Inc (NASDAQ:ONVO) will report ($0.08) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Organovo’s earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.08). Organovo reported earnings per share of ($0.07) in the same quarter last year, which would suggest a negative year over year growth rate of 14.3%. The firm is expected to report its next quarterly earnings results on Thursday, May 30th.

According to Zacks, analysts expect that Organovo will report full-year earnings of ($0.26) per share for the current year, with EPS estimates ranging from ($0.27) to ($0.24). For the next financial year, analysts expect that the business will post earnings of ($0.27) per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Organovo.

Organovo (NASDAQ:ONVO) last announced its earnings results on Thursday, February 7th. The medical research company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01. Organovo had a negative return on equity of 67.55% and a negative net margin of 770.79%. The firm had revenue of $0.78 million during the quarter, compared to analysts’ expectations of $0.87 million.

Separately, Zacks Investment Research downgraded Organovo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 30th.

Shares of NASDAQ:ONVO traded up $0.01 on Friday, reaching $1.00. The company had a trading volume of 7,116 shares, compared to its average volume of 637,570. Organovo has a 52-week low of $0.90 and a 52-week high of $2.09. The company has a market capitalization of $118.27 million, a PE ratio of -3.16 and a beta of 1.79.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc grew its stake in Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 4,771,558 shares of the medical research company’s stock worth $5,487,000 after buying an additional 52,073 shares during the last quarter. Renaissance Technologies LLC grew its stake in Organovo by 25.4% during the 3rd quarter. Renaissance Technologies LLC now owns 1,561,000 shares of the medical research company’s stock worth $1,795,000 after buying an additional 316,400 shares during the last quarter. BlackRock Inc. grew its stake in Organovo by 0.5% during the 4th quarter. BlackRock Inc. now owns 7,101,200 shares of the medical research company’s stock valued at $6,796,000 after purchasing an additional 32,303 shares during the last quarter. Lehman & Derafelo Financial Resources LLC purchased a new stake in Organovo during the 4th quarter valued at about $193,000. Finally, Vanguard Group Inc. grew its stake in Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,771,558 shares of the medical research company’s stock valued at $5,487,000 after purchasing an additional 52,073 shares during the last quarter. Hedge funds and other institutional investors own 36.21% of the company’s stock.

About Organovo

Organovo Holdings, Inc, a biotechnology company, provides therapeutic and drug profiling capabilities based on its 3D bioprint tissues that emulate human biology and diseases. Its 3D human tissue platform includes its proprietary NovoGen Bioprinters, which are automated devices that enable the fabrication of 3D living tissues comprised mammalian cells; and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture.

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Earnings History and Estimates for Organovo (NASDAQ:ONVO)

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