Organovo Holdings Inc to Post Q3 2019 Earnings of ($0.06) Per Share, Jefferies Financial Group Forecasts (ONVO)

Organovo Holdings Inc (NASDAQ:ONVO) – Research analysts at Jefferies Financial Group issued their Q3 2019 earnings per share estimates for shares of Organovo in a research report issued on Tuesday, November 27th. Jefferies Financial Group analyst B. Couillard expects that the medical research company will earn ($0.06) per share for the quarter. Jefferies Financial Group also issued estimates for Organovo’s Q4 2019 earnings at ($0.07) EPS, FY2019 earnings at ($0.25) EPS, Q1 2020 earnings at ($0.06) EPS, Q2 2020 earnings at ($0.05) EPS, Q3 2020 earnings at ($0.05) EPS, Q4 2020 earnings at ($0.05) EPS and FY2020 earnings at ($0.22) EPS.

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 analysts’ consensus estimates 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 firm had revenue of $0.94 million during the quarter, compared to analyst estimates of $0.90 million.

Separately, Zacks Investment Research lowered Organovo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th.

Shares of NASDAQ ONVO opened at $0.97 on Friday. Organovo has a fifty-two week low of $0.90 and a fifty-two week high of $2.09. The company has a market cap of $117.05 million, a price-to-earnings ratio of -3.03 and a beta of 2.51.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,771,558 shares of the medical research company’s stock valued at $5,487,000 after purchasing an additional 52,073 shares in the last quarter. BlackRock Inc. grew its stake in Organovo by 1.5% during the 3rd quarter. BlackRock Inc. now owns 7,068,897 shares of the medical research company’s stock valued at $8,129,000 after purchasing an additional 102,486 shares in the last quarter. Virtu Financial LLC acquired a new stake in Organovo during the 3rd quarter valued at approximately $138,000. Renaissance Technologies LLC grew its stake in Organovo by 25.4% during the 3rd quarter. Renaissance Technologies LLC now owns 1,561,000 shares of the medical research company’s stock valued at $1,795,000 after purchasing an additional 316,400 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Organovo by 20.8% during the 3rd quarter. ARK Investment Management LLC now owns 17,951,107 shares of the medical research company’s stock worth $20,644,000 after buying an additional 3,090,669 shares during the last quarter. Hedge funds and other institutional investors own 35.91% 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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Earnings History and Estimates for Organovo (NASDAQ:ONVO)

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