Organovo (NASDAQ:ONVO) Trading Up 6.4%

Organovo Holdings Inc (NASDAQ:ONVO) shares were up 6.4% during trading on Thursday . The stock traded as high as $0.27 and last traded at $0.27, approximately 394,175 shares traded hands during trading. A decline of 71% from the average daily volume of 1,354,661 shares. The stock had previously closed at $0.25.

Several analysts have commented on ONVO shares. ValuEngine upgraded Organovo from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Organovo from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, HC Wainwright downgraded Organovo from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th.

The firm has a 50 day simple moving average of $0.34 and a 200 day simple moving average of $0.71. The firm has a market capitalization of $32.61 million, a PE ratio of -1.09 and a beta of 1.99.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm had revenue of $0.67 million for the quarter, compared to the consensus estimate of $0.77 million. Organovo had a negative return on equity of 69.51% and a negative net margin of 831.99%. On average, equities analysts expect that Organovo Holdings Inc will post -0.21 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in ONVO. Jane Street Group LLC purchased a new stake in Organovo in the second quarter valued at $208,000. Paloma Partners Management Co purchased a new stake in Organovo in the second quarter valued at $283,000. Renaissance Technologies LLC boosted its holdings in Organovo by 45.3% in the second quarter. Renaissance Technologies LLC now owns 5,327,139 shares of the medical research company’s stock valued at $2,786,000 after purchasing an additional 1,661,998 shares during the last quarter. Advisor Group Inc. boosted its holdings in Organovo by 67.0% in the second quarter. Advisor Group Inc. now owns 87,250 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 35,000 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in Organovo by 5.7% in the second quarter. ARK Investment Management LLC now owns 21,132,709 shares of the medical research company’s stock valued at $11,052,000 after purchasing an additional 1,134,039 shares during the last quarter. 45.20% of the stock is currently owned by institutional investors.

Organovo Company Profile (NASDAQ:ONVO)

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.

See Also: Producer Price Index (PPI)

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.