Equities analysts expect that Organovo Holdings Inc (NASDAQ:ONVO) will announce sales of $870,000.00 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Organovo’s earnings, with the highest sales estimate coming in at $1.10 million and the lowest estimate coming in at $700,000.00. Organovo posted sales of $1.15 million in the same quarter last year, which would indicate a negative year over year growth rate of 24.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 14th.

On average, analysts expect that Organovo will report full year sales of $3.42 million for the current financial year, with estimates ranging from $3.10 million to $3.90 million. For the next fiscal year, analysts expect that the firm will report sales of $3.60 million, with estimates ranging from $2.51 million to $5.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Organovo.

Organovo (NASDAQ:ONVO) last issued its quarterly earnings data on Thursday, November 8th. The medical research company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Organovo had a negative return on equity of 65.73% and a negative net margin of 732.47%. The business had revenue of $0.94 million for the quarter, compared to analysts’ expectations of $0.90 million.

Several equities analysts have weighed in on ONVO shares. Zacks Investment Research upgraded Organovo from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research note on Thursday, October 11th. HC Wainwright initiated coverage on Organovo in a research note on Thursday, December 13th. They set a “buy” rating and a $2.50 price objective on the stock.

NASDAQ:ONVO traded down $0.01 during trading hours on Friday, hitting $1.07. 763,600 shares of the company traded hands, compared to its average volume of 598,925. Organovo has a one year low of $0.90 and a one year high of $2.09. The stock has a market cap of $127.48 million, a PE ratio of -3.34 and a beta of 1.94.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc raised its stake in shares of Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 4,771,558 shares of the medical research company’s stock worth $5,487,000 after purchasing an additional 52,073 shares during the period. Vanguard Group Inc. raised its stake in shares of Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,771,558 shares of the medical research company’s stock worth $5,487,000 after purchasing an additional 52,073 shares during the period. Renaissance Technologies LLC raised its stake in shares of Organovo by 25.4% during the 3rd quarter. Renaissance Technologies LLC now owns 1,561,000 shares of the medical research company’s stock worth $1,795,000 after purchasing an additional 316,400 shares during the period. Virtu Financial LLC bought a new stake in shares of Organovo during the 3rd quarter worth $138,000. Finally, BlackRock Inc. raised its stake in shares of Organovo by 1.5% during the 3rd quarter. BlackRock Inc. now owns 7,068,897 shares of the medical research company’s stock worth $8,129,000 after purchasing an additional 102,486 shares during the period. Institutional investors own 36.26% of the company’s stock.

About Organovo

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.

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