Organovo Holdings Inc (NASDAQ:ONVO) shares were down 5.3% during trading on Wednesday . The stock traded as low as $0.86 and last traded at $0.90. Approximately 1,311,562 shares were traded during trading, an increase of 110% from the average daily volume of 623,612 shares. The stock had previously closed at $0.95.

Separately, Zacks Investment Research downgraded Organovo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 30th.

The firm has a market capitalization of $113.00 million, a P/E ratio of -1.45 and a beta of 1.79.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONVO. BNP Paribas Arbitrage SA increased its holdings in shares of Organovo by 1,459.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 26,630 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 24,922 shares during the period. Raymond James & Associates increased its holdings in shares of Organovo by 87.6% in the 1st quarter. Raymond James & Associates now owns 36,413 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 17,000 shares during the period. Albion Financial Group UT purchased a new position in shares of Organovo in the 4th quarter valued at $37,000. SG Americas Securities LLC increased its holdings in shares of Organovo by 86.5% in the 4th quarter. SG Americas Securities LLC now owns 77,206 shares of the medical research company’s stock valued at $74,000 after acquiring an additional 35,818 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Organovo by 104.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 92,364 shares of the medical research company’s stock valued at $91,000 after acquiring an additional 47,181 shares during the period. Institutional investors own 42.61% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.watchlistnews.com/organovo-onvo-trading-down-5-3/3021366.html.

About Organovo (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.

Further Reading: Options Trading – Understanding Strike Price

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.