Zacks: Analysts Expect Organovo Holdings Inc (ONVO) to Post -$0.07 EPS
Analysts expect that Organovo Holdings Inc (NASDAQ:ONVO) will post earnings per share of ($0.07) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Organovo’s earnings. Organovo posted earnings of ($0.10) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 30%. The company is expected to announce its next earnings report on Wednesday, June 6th.
According to Zacks, analysts expect that Organovo will report full year earnings of ($0.33) per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of ($0.26) per share, with EPS estimates ranging from ($0.26) to ($0.25). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Organovo.
Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. Organovo had a negative return on equity of 69.03% and a negative net margin of 881.93%. The business had revenue of $1.15 million for the quarter, compared to the consensus estimate of $1.25 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The business’s revenue was up .0% on a year-over-year basis.
Shares of Organovo stock traded up $0.02 during mid-day trading on Tuesday, hitting $1.10. The stock had a trading volume of 828,889 shares, compared to its average volume of 767,422. Organovo has a 1 year low of $0.93 and a 1 year high of $3.26. The company has a market capitalization of $121.92, a PE ratio of -3.06 and a beta of 2.76.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. ARK Investment Management LLC increased its stake in Organovo by 124.3% during the fourth quarter. ARK Investment Management LLC now owns 5,891,552 shares of the medical research company’s stock worth $7,895,000 after acquiring an additional 3,264,848 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Organovo by 5.2% during the second quarter. Vanguard Group Inc. now owns 4,470,182 shares of the medical research company’s stock valued at $11,756,000 after buying an additional 220,165 shares during the last quarter. State Street Corp grew its stake in shares of Organovo by 9.7% during the second quarter. State Street Corp now owns 1,697,994 shares of the medical research company’s stock valued at $4,463,000 after buying an additional 150,837 shares during the last quarter. Ark Investment Management LLC grew its stake in shares of Organovo by 134.5% during the second quarter. Ark Investment Management LLC now owns 1,445,039 shares of the medical research company’s stock valued at $3,800,000 after buying an additional 828,787 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Organovo by 2.1% during the second quarter. Northern Trust Corp now owns 1,199,998 shares of the medical research company’s stock valued at $3,156,000 after buying an additional 24,408 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.
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Organovo Company Profile
Organovo Holdings, Inc is an early commercial-stage company focused on developing and commercializing functional human tissues. The Company focuses on the generation of three-dimensional (3D) human tissues, by utilizing its platform technology to create human tissue constructs in 3D. It is focused on development of products, including 3D human tissues used for the preclinical assessment of drug effects, including applications in predictive toxicology, absorption, distribution, metabolism, excretion (ADME), and drug metabolism and pharmacokinetics (DMPK); customized human tissues as living, dynamic models of human biology or disease, for use in drug discovery and development, and three-dimensional human tissues for clinical applications, such as blood vessels for bypass grafting, nerve grafts for nerve damage repair and functional tissue patches for the repair or replacement of damaged tissues and organs.
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