Organovo Holdings Inc (NASDAQ:ONVO) rose 5.9% on Wednesday . The stock traded as high as $1.11 and last traded at $1.08. Approximately 1,037,542 shares traded hands during trading, an increase of 82% from the average daily volume of 571,527 shares. The stock had previously closed at $1.02.
ONVO has been the subject of several recent analyst reports. HC Wainwright initiated coverage on Organovo in a research note on Thursday, December 13th. They set a “buy” rating and a $2.50 target price for the company. Zacks Investment Research cut Organovo from a “hold” rating to a “sell” rating in a research note on Wednesday.
The company has a market capitalization of $121.88 million, a price-to-earnings ratio of -3.38 and a beta of 1.84.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Organovo by 30.8% during the fourth quarter. Bank of New York Mellon Corp now owns 452,164 shares of the medical research company’s stock worth $433,000 after purchasing an additional 106,470 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Organovo by 0.5% in the 4th quarter. BlackRock Inc. now owns 7,101,200 shares of the medical research company’s stock valued at $6,796,000 after acquiring an additional 32,303 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Organovo by 86.5% in the 4th quarter. SG Americas Securities LLC now owns 77,206 shares of the medical research company’s stock valued at $74,000 after acquiring an additional 35,818 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Organovo by 53.0% in the 4th quarter. Rhumbline Advisers now owns 143,143 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 49,579 shares during the last quarter. Finally, Albion Financial Group UT bought a new position in shares of Organovo in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 36.22% of the company’s stock.
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Organovo Company Profile (NASDAQ:ONVO)
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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