Organovo Holdings Inc (NASDAQ:ONVO) Short Interest Update

Organovo Holdings Inc (NASDAQ:ONVO) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 1,480,000 shares, a decrease of 25.6% from the December 31st total of 1,990,000 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 678,900 shares, the days-to-cover ratio is currently 2.2 days.

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in Organovo during the second quarter worth about $208,000. Paloma Partners Management Co acquired a new stake in Organovo during the second quarter worth about $283,000. Renaissance Technologies LLC raised its stake in Organovo by 45.3% during the second quarter. Renaissance Technologies LLC now owns 5,327,139 shares of the medical research company’s stock worth $2,786,000 after acquiring an additional 1,661,998 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Organovo by 210.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,807,832 shares of the medical research company’s stock worth $3,336,000 after acquiring an additional 8,685,367 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its stake in Organovo by 17.5% during the third quarter. Nikko Asset Management Americas Inc. now owns 12,807,832 shares of the medical research company’s stock worth $3,336,000 after acquiring an additional 1,903,269 shares during the period. Institutional investors and hedge funds own 47.93% of the company’s stock.

A number of equities research analysts have recently issued reports on ONVO shares. Zacks Investment Research upgraded shares of Organovo from a “hold” rating to a “buy” rating and set a $0.50 target price on the stock in a research note on Thursday, November 14th. ValuEngine upgraded shares of Organovo from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd.

Shares of Organovo stock remained flat at $$0.36 during trading on Tuesday. 390,823 shares of the stock were exchanged, compared to its average volume of 691,211. The firm has a market capitalization of $46.32 million, a P/E ratio of -1.61 and a beta of 2.18. The firm’s fifty day simple moving average is $0.43 and its two-hundred day simple moving average is $0.37. Organovo has a 1-year low of $0.22 and a 1-year high of $1.18.

Organovo (NASDAQ:ONVO) last issued its earnings results on Thursday, November 7th. The medical research company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $1.23 million for the quarter, compared to analyst estimates of $0.79 million. Organovo had a negative net margin of 774.47% and a negative return on equity of 74.72%.

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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