Zacks Investment Research Lowers Organovo Holdings Inc. (ONVO) to Hold
Organovo Holdings Inc. (NASDAQ:ONVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Organovo Holdings, Inc. is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. Its NovoGen 3D printing technology is a platform that works across various tissue and cell types. Organovo Holdings, Inc. is based in San Diego, California. “
Separately, Jefferies Group reissued a “buy” rating and issued a $4.50 price objective (up from $4.00) on shares of Organovo Holdings in a research report on Thursday, July 21st.
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Shares of Organovo Holdings (NASDAQ:ONVO) traded down 5.12% during trading on Thursday, hitting $3.71. 1,101,791 shares of the stock traded hands. The firm’s 50-day moving average price is $3.92 and its 200-day moving average price is $3.39. Organovo Holdings has a 52 week low of $1.60 and a 52 week high of $4.99.
Organovo Holdings (NASDAQ:ONVO) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Organovo Holdings had a negative return on equity of 59.27% and a negative net margin of 1,878.68%. Analysts forecast that Organovo Holdings will post ($0.42) earnings per share for the current fiscal year.
In other news, EVP Eric David sold 20,000 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $4.55, for a total value of $91,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Cowen Group Inc. boosted its stake in Organovo Holdings by 8.6% in the second quarter. Cowen Group Inc. now owns 63,000 shares of the company’s stock valued at $234,000 after buying an additional 5,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Organovo Holdings by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 264,596 shares of the company’s stock worth $985,000 after buying an additional 3,654 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Organovo Holdings during the second quarter worth approximately $231,000. Rhumbline Advisers raised its position in shares of Organovo Holdings by 19.5% in the second quarter. Rhumbline Advisers now owns 99,758 shares of the company’s stock worth $371,000 after buying an additional 16,245 shares during the last quarter. Finally, Lehman Financial Resources Inc. raised its position in shares of Organovo Holdings by 1.2% in the second quarter. Lehman Financial Resources Inc. now owns 131,400 shares of the company’s stock worth $488,000 after buying an additional 1,500 shares during the last quarter. 19.11% of the stock is owned by institutional investors.
About Organovo Holdings
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