Organovo Holdings, Inc. (ONVO) Shares Down 1.2%

Organovo Holdings, Inc. (NASDAQ:ONVO) fell 1.2% during mid-day trading on Wednesday . The stock traded as low as $1.69 and last traded at $1.72. 3,013,017 shares traded hands during mid-day trading, an increase of 233% from the average session volume of 904,606 shares. The stock had previously closed at $1.70.

Several research firms recently issued reports on ONVO. Jefferies Group LLC reissued a “buy” rating and issued a $4.00 target price on shares of Organovo Holdings in a research report on Tuesday, September 26th. 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 report on Wednesday. BidaskClub lowered shares of Organovo Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, ValuEngine lowered shares of Organovo Holdings from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.00.

The stock’s 50 day moving average price is $2.07 and its 200-day moving average price is $2.51. The stock’s market cap is $177.76 million.

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

A number of institutional investors have recently made changes to their positions in ONVO. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Organovo Holdings by 191.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 35,000 shares of the company’s stock worth $111,000 after buying an additional 23,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Organovo Holdings by 34.0% during the first quarter. Bank of America Corp DE now owns 35,311 shares of the company’s stock worth $113,000 after buying an additional 8,967 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Organovo Holdings by 18.8% during the second quarter. Voya Investment Management LLC now owns 52,032 shares of the company’s stock worth $137,000 after buying an additional 8,225 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Organovo Holdings by 7.9% during the first quarter. American International Group Inc. now owns 53,431 shares of the company’s stock worth $170,000 after buying an additional 3,920 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in shares of Organovo Holdings by 12.7% during the first quarter. Nationwide Fund Advisors now owns 60,565 shares of the company’s stock worth $193,000 after buying an additional 6,802 shares during the last quarter. 23.94% of the stock is owned by hedge funds and other institutional investors.

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