Organovo Holdings Inc (NASDAQ:ONVO) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,580,000 shares, a growth of 6.8% from the January 15th total of 1,480,000 shares. Based on an average daily trading volume, of 726,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.2% of the company’s stock are short sold.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Organovo from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a research note on Thursday, November 14th. ValuEngine upgraded Organovo from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd.

Shares of ONVO stock remained flat at $$0.33 during mid-day trading on Friday. The stock had a trading volume of 246,346 shares, compared to its average volume of 606,940. Organovo has a 52-week low of $0.22 and a 52-week high of $1.18. The company has a 50-day moving average of $0.38 and a 200-day moving average of $0.36. The firm has a market capitalization of $43.46 million, a PE ratio of -1.51 and a beta of 2.19.

Hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC purchased a new position in shares of Organovo in the fourth quarter worth $470,000. Renaissance Technologies LLC raised its stake in shares of Organovo by 9.2% in the fourth quarter. Renaissance Technologies LLC now owns 7,023,760 shares of the medical research company’s stock worth $2,498,000 after purchasing an additional 591,174 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Organovo by 210.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,807,832 shares of the medical research company’s stock worth $3,336,000 after purchasing an additional 8,685,367 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Organovo by 17.5% in the third quarter. Nikko Asset Management Americas Inc. now owns 12,807,832 shares of the medical research company’s stock worth $3,336,000 after purchasing an additional 1,903,269 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Organovo by 2.9% in the fourth quarter. ARK Investment Management LLC now owns 19,499,439 shares of the medical research company’s stock worth $6,936,000 after purchasing an additional 550,517 shares during the last quarter. Hedge funds and other institutional investors own 47.93% of the company’s stock.

Organovo Company Profile

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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