Organovo Holdings, Inc. (NASDAQ:ONVO) shares dropped 2.4% during mid-day trading on Tuesday . The company traded as low as $1.46 and last traded at $1.52. Approximately 1,253,971 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 1,053,680 shares. The stock had previously closed at $1.48.

ONVO has been the subject of a number of research analyst reports. ValuEngine cut shares of Organovo Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Organovo Holdings from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Wednesday, October 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $4.00 target price on shares of Organovo Holdings in a research note on Thursday, July 27th. Finally, BidaskClub cut shares of Organovo Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Organovo Holdings presently has a consensus rating of “Hold” and a consensus target price of $6.00.

The stock’s market capitalization is $161.31 million. The stock’s 50-day moving average price is $2.04 and its 200-day moving average price is $2.47.

Organovo Holdings (NASDAQ:ONVO) last issued its earnings results on Wednesday, August 9th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). Organovo Holdings had a negative net margin of 918.97% and a negative return on equity of 65.49%. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.92 million. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Organovo Holdings, Inc. will post ($0.39) EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of ONVO. Nationwide Fund Advisors boosted its position in Organovo Holdings by 12.7% in the first quarter. Nationwide Fund Advisors now owns 60,565 shares of the company’s stock valued at $193,000 after buying an additional 6,802 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Organovo Holdings by 10.2% in the first quarter. Bank of New York Mellon Corp now owns 466,233 shares of the company’s stock valued at $1,482,000 after buying an additional 43,061 shares in the last quarter. American International Group Inc. boosted its position in Organovo Holdings by 7.9% in the first quarter. American International Group Inc. now owns 53,431 shares of the company’s stock valued at $170,000 after buying an additional 3,920 shares in the last quarter. Vanguard Group Inc. boosted its position in Organovo Holdings by 8.5% in the first quarter. Vanguard Group Inc. now owns 4,250,017 shares of the company’s stock valued at $13,515,000 after buying an additional 333,034 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Organovo Holdings by 44.6% in the first quarter. Geode Capital Management LLC now owns 955,299 shares of the company’s stock valued at $3,037,000 after buying an additional 294,861 shares in the last quarter. Hedge funds and other institutional investors own 23.94% of the company’s stock.

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Organovo Holdings Company Profile

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