Organovo (NASDAQ:ONVO) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Organovo (NASDAQ:ONVO) released its quarterly earnings data on Friday. The medical research company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01, Fidelity Earnings reports. Organovo had a negative return on equity of 69.51% and a negative net margin of 831.99%.

NASDAQ ONVO traded up $0.01 on Friday, reaching $0.39. 454,400 shares of the company were exchanged, compared to its average volume of 1,179,854. The business’s fifty day moving average price is $0.29 and its 200 day moving average price is $0.47. Organovo has a fifty-two week low of $0.22 and a fifty-two week high of $1.19. The stock has a market capitalization of $51.94 million, a P/E ratio of -1.70 and a beta of 1.98.

A number of research firms have weighed in on ONVO. HC Wainwright lowered Organovo from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Zacks Investment Research lowered Organovo from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, ValuEngine raised Organovo from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Organovo Company Profile

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 for Organovo (NASDAQ:ONVO)

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