Short Interest in Organovo Holdings, Inc. (NASDAQ:ONVO) Grows By 29.4%

Organovo Holdings, Inc. (NASDAQ:ONVOGet Free Report) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 407,000 shares, an increase of 29.4% from the January 31st total of 314,600 shares. Based on an average daily volume of 179,000 shares, the short-interest ratio is presently 2.3 days.

Hedge Funds Weigh In On Organovo

A number of hedge funds have recently bought and sold shares of ONVO. Vanguard Group Inc. grew its stake in Organovo by 4.9% in the third quarter. Vanguard Group Inc. now owns 283,074 shares of the medical research company’s stock worth $580,000 after purchasing an additional 13,153 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Organovo by 17.3% in the first quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock worth $288,000 after acquiring an additional 19,430 shares during the last quarter. Finally, Susquehanna International Group LLP raised its holdings in shares of Organovo by 20.9% during the first quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock valued at $134,000 after buying an additional 10,594 shares during the last quarter. 9.14% of the stock is currently owned by institutional investors and hedge funds.

Organovo Stock Up 1.0 %

Shares of Organovo stock traded up $0.01 during trading hours on Monday, hitting $1.03. 30,196 shares of the company’s stock traded hands, compared to its average volume of 111,559. The stock has a 50 day simple moving average of $1.05 and a 200-day simple moving average of $1.18. The company has a market cap of $10.34 million, a PE ratio of -0.47 and a beta of 0.90. Organovo has a twelve month low of $0.89 and a twelve month high of $2.33.

Organovo (NASDAQ:ONVOGet Free Report) last announced its earnings results on Thursday, February 8th. The medical research company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.01. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.08 million. Organovo had a negative return on equity of 182.88% and a negative net margin of 4,061.12%. As a group, equities research analysts predict that Organovo will post -1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, began coverage on Organovo in a report on Friday. They issued a “sell” rating for the company.

Read Our Latest Analysis on ONVO

Organovo Company Profile

(Get Free Report)

Organovo Holdings, Inc, a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. 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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