Organovo Holdings, Inc. (NASDAQ:ONVO) Short Interest Update

Organovo Holdings, Inc. (NASDAQ:ONVO) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 56,200 shares, a drop of 95.9% from the February 28th total of 1,380,000 shares. Based on an average daily volume of 617,300 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.3% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Organovo in a research note on Wednesday, March 19th. They issued a “sell” rating on the stock.

Organovo Stock Performance

NASDAQ ONVO traded down $0.10 on Wednesday, reaching $2.74. The company had a trading volume of 139,364 shares, compared to its average volume of 703,723. The firm has a market capitalization of $4.66 million, a price-to-earnings ratio of -3.22 and a beta of 0.45. The company’s fifty day moving average is $5.04 and its 200-day moving average is $5.17. Organovo has a 1-year low of $2.63 and a 1-year high of $21.96.

Organovo (NASDAQ:ONVO) last issued its earnings results on Wednesday, February 19th. The medical research company reported ($2.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.52) by $0.24. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Organovo had a negative net margin of 10,151.64% and a negative return on equity of 346.26%. On average, research analysts forecast that Organovo will post -0.77 earnings per share 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.