Organovo Holdings, Inc. (NASDAQ:ONVO) Short Interest Up 30.6% in March

Organovo Holdings, Inc. (NASDAQ:ONVO) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 73,400 shares, an increase of 30.6% from the March 15th total of 56,200 shares. Based on an average daily trading volume, of 632,900 shares, the days-to-cover ratio is currently 0.1 days. Currently, 4.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Organovo in a research note on Sunday. They issued a “sell” rating for the company.

Organovo Stock Up 3.6 %

Shares of NASDAQ ONVO traded up $0.06 during midday trading on Friday, reaching $1.72. The company had a trading volume of 169,346 shares, compared to its average volume of 633,270. The stock has a market cap of $2.93 million, a PE ratio of -2.02 and a beta of 1.13. Organovo has a one year low of $1.56 and a one year high of $21.96. The firm’s fifty day moving average price is $4.14 and its 200-day moving average price is $4.63.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($2.28) earnings per share for the quarter, beating the consensus estimate of ($2.52) by $0.24. Organovo had a negative net margin of 10,151.64% and a negative return on equity of 346.26%. The business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. As a group, equities research analysts expect that Organovo will post -0.77 EPS for the current year.

About Organovo

Organovo Holdings, Inc, a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. 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.