Organovo Holdings, Inc. (ONVO) Stock Price Down 7.7%
Organovo Holdings, Inc. (NASDAQ:ONVO)’s share price fell 7.7% during mid-day trading on Wednesday . The stock traded as low as $2.03 and last traded at $2.04. 1,233,803 shares changed hands during trading, an increase of 51% from the average session volume of 817,850 shares. The stock had previously closed at $2.21.
Several brokerages recently issued reports on ONVO. Jefferies Group LLC restated a “buy” rating and set a $4.00 price target on shares of Organovo Holdings in a research note on Tuesday, September 26th. ValuEngine lowered Organovo Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. BidaskClub lowered Organovo Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Evercore ISI restated an “outperform” rating and set a $3.75 price target (down from $4.00) on shares of Organovo Holdings in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. Organovo Holdings presently has a consensus rating of “Hold” and a consensus price target of $6.94.
The firm’s 50 day moving average price is $2.07 and its 200-day moving average price is $2.54. The company’s market cap is $216.49 million.
Organovo Holdings (NASDAQ:ONVO) last announced its earnings results on Wednesday, August 9th. The company reported ($0.10) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). Organovo Holdings had a negative net margin of 918.97% and a negative return on equity of 65.49%. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.92 million. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that Organovo Holdings, Inc. will post ($0.39) EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Organovo Holdings by 8.5% during the first quarter. Vanguard Group Inc. now owns 4,250,017 shares of the company’s stock worth $13,515,000 after purchasing an additional 333,034 shares during the period. ARK Investment Management LLC increased its holdings in shares of Organovo Holdings by 134.5% during the second quarter. ARK Investment Management LLC now owns 1,445,039 shares of the company’s stock worth $3,800,000 after purchasing an additional 828,787 shares during the period. Meridian Wealth Management LLC bought a new position in shares of Organovo Holdings during the first quarter worth approximately $321,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of Organovo Holdings by 15.0% during the first quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the company’s stock worth $218,000 after purchasing an additional 8,958 shares during the period. Finally, KCG Holdings Inc. increased its holdings in shares of Organovo Holdings by 139.3% during the first quarter. KCG Holdings Inc. now owns 144,501 shares of the company’s stock worth $460,000 after purchasing an additional 84,126 shares during the period. 23.94% of the stock is currently owned by institutional investors.
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About Organovo Holdings
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