Organovo (NASDAQ:ONVO) Rating Increased to Sell at StockNews.com

Organovo (NASDAQ:ONVOGet Free Report) was upgraded by analysts at StockNews.com to a “sell” rating in a report issued on Monday.

Organovo Stock Up 24.4 %

Shares of Organovo stock traded up $0.22 on Monday, reaching $1.12. 1,084,204 shares of the stock were exchanged, compared to its average volume of 128,513. Organovo has a twelve month low of $0.89 and a twelve month high of $3.40. The firm has a market capitalization of $11.24 million, a price-to-earnings ratio of -0.52 and a beta of 0.91. The business has a 50 day moving average price of $1.09 and a two-hundred day moving average price of $1.24.

Organovo (NASDAQ:ONVOGet Free Report) last released its earnings results on Thursday, November 9th. The medical research company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). Organovo had a negative return on equity of 182.88% and a negative net margin of 4,061.12%. Research analysts forecast that Organovo will post -1.75 EPS for the current year.

Insider Activity at Organovo

In related news, Director David Gobel sold 19,607 shares of Organovo stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1.62, for a total transaction of $31,763.34. Following the completion of the transaction, the director now directly owns 19,607 shares in the company, valued at $31,763.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by company insiders.

Institutional Trading of Organovo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Organovo by 17.3% during the first quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock worth $288,000 after purchasing an additional 19,430 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Organovo by 4.9% during 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. Finally, Susquehanna International Group LLP increased its position 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 worth $134,000 after purchasing an additional 10,594 shares in the last quarter. 9.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

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