Organovo Holdings Inc (NASDAQ:ONVO) was the target of a large decrease in short interest during the month of November. As of November 29th, there was short interest totalling 2,990,000 shares, a decrease of 7.4% from the November 14th total of 3,230,000 shares. Based on an average daily trading volume, of 558,000 shares, the days-to-cover ratio is presently 5.4 days. Approximately 2.3% of the company’s stock are short sold.
Shares of Organovo stock traded down $0.01 during trading hours on Friday, hitting $0.50. 318,595 shares of the company’s stock traded hands, compared to its average volume of 616,654. Organovo has a 12-month low of $0.22 and a 12-month high of $1.18. The stock has a market capitalization of $65.22 million, a price-to-earnings ratio of -2.15 and a beta of 2.24. The company has a fifty day simple moving average of $0.42 and a 200-day simple moving average of $0.39.
Organovo (NASDAQ:ONVO) last announced its earnings results on Thursday, November 7th. The medical research company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Organovo had a negative return on equity of 74.72% and a negative net margin of 774.47%. The firm had revenue of $1.23 million during the quarter, compared to analyst estimates of $0.79 million. Sell-side analysts anticipate that Organovo will post -0.19 earnings per share for the current fiscal year.
A number of research firms recently commented on ONVO. ValuEngine raised Organovo from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Zacks Investment Research raised Organovo from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research report on Thursday, November 14th.
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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