Citigroup Inc. cut shares of Organovo Holdings, Inc. (NASDAQ:ONVO) to a market perform rating in a research note published on Friday, The Fly reports.

A number of other research firms have also recently weighed in on ONVO. Zacks Investment Research raised shares of Organovo Holdings from a hold rating to a buy rating and set a $2.25 target price on the stock in a research note on Wednesday, October 11th. Jefferies Group LLC reaffirmed a buy rating and set a $4.00 target price on shares of Organovo Holdings in a research note on Tuesday, September 26th. Raymond James Financial, Inc. cut shares of Organovo Holdings from an outperform rating to a market perform rating and set a $5.00 target price on the stock. in a research note on Friday. BidaskClub cut shares of Organovo Holdings from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Finally, ValuEngine cut shares of Organovo Holdings from a sell rating to a strong sell rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $6.00.

Shares of Organovo Holdings (NASDAQ:ONVO) traded up $0.05 during trading hours on Friday, reaching $1.54. 1,142,600 shares of the company were exchanged, compared to its average volume of 1,265,604. Organovo Holdings has a fifty-two week low of $1.32 and a fifty-two week high of $4.08.

Organovo Holdings (NASDAQ:ONVO) last announced its quarterly earnings data on Thursday, November 9th. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $1.36 million for the quarter, compared to analysts’ expectations of $1.38 million. Organovo Holdings had a negative net margin of 923.89% and a negative return on equity of 62.67%. Organovo Holdings’s revenue for the quarter was down 1.4% compared to the same quarter last year. equities analysts anticipate that Organovo Holdings will post -0.37 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/11/13/organovo-holdings-inc-onvo-cut-to-market-perform-at-citigroup-inc.html.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Organovo Holdings by 34.0% in the first quarter. Bank of America Corp DE now owns 35,311 shares of the medical research company’s stock valued at $113,000 after buying an additional 8,967 shares during the period. Voya Investment Management LLC lifted its holdings in Organovo Holdings by 18.8% in the second quarter. Voya Investment Management LLC now owns 52,032 shares of the medical research company’s stock valued at $137,000 after buying an additional 8,225 shares during the period. American International Group Inc. lifted its holdings in Organovo Holdings by 7.9% in the first quarter. American International Group Inc. now owns 53,431 shares of the medical research company’s stock valued at $170,000 after buying an additional 3,920 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in Organovo Holdings by 15.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the medical research company’s stock valued at $218,000 after buying an additional 8,958 shares during the period. Finally, Tudor Investment Corp ET AL lifted its holdings in Organovo Holdings by 141.7% in the first quarter. Tudor Investment Corp ET AL now owns 75,000 shares of the medical research company’s stock valued at $238,000 after buying an additional 43,965 shares during the period. Institutional investors and hedge funds own 24.20% of the company’s stock.

Organovo Holdings Company Profile

The Fly

Analyst Recommendations for Organovo Holdings (NASDAQ:ONVO)

Receive News & Stock Ratings for Organovo Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organovo Holdings Inc. and related stocks with our FREE daily email newsletter.