Organovo Holdings Inc (NASDAQ:ONVO) – Analysts at Jefferies Group raised their FY2018 EPS estimates for shares of Organovo in a research note issued to investors on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the medical research company will earn ($0.33) per share for the year, up from their prior forecast of ($0.35). Jefferies Group also issued estimates for Organovo’s Q4 2018 earnings at ($0.07) EPS and FY2020 earnings at ($0.20) EPS.
Organovo (NASDAQ:ONVO) last posted its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. The firm had revenue of $1.15 million for the quarter, compared to the consensus estimate of $1.25 million. Organovo had a negative net margin of 881.93% and a negative return on equity of 69.03%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS.
Shares of Organovo (NASDAQ:ONVO) traded up $0.04 during trading hours on Thursday, hitting $1.13. 753,400 shares of the company were exchanged, compared to its average volume of 1,210,382. Organovo has a 52 week low of $0.93 and a 52 week high of $3.26.
A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC bought a new stake in Organovo in the 4th quarter valued at about $269,000. Anson Funds Management LP bought a new stake in Organovo in the 4th quarter valued at about $281,000. Paloma Partners Management Co bought a new stake in Organovo in the 4th quarter valued at about $130,000. ARK Investment Management LLC raised its stake in Organovo by 124.3% in the 4th quarter. ARK Investment Management LLC now owns 5,891,552 shares of the medical research company’s stock valued at $7,895,000 after acquiring an additional 3,264,848 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Organovo by 57.1% in the 4th quarter. Bank of New York Mellon Corp now owns 669,508 shares of the medical research company’s stock valued at $898,000 after acquiring an additional 243,397 shares during the period. Institutional investors and hedge funds own 25.28% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Jefferies Group Weighs in on Organovo Holdings Inc’s FY2018 Earnings (ONVO)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/15/jefferies-group-weighs-in-on-organovo-holdings-incs-fy2018-earnings-onvo.html.
Organovo Holdings, Inc is an early commercial-stage company focused on developing and commercializing functional human tissues. The Company focuses on the generation of three-dimensional (3D) human tissues, by utilizing its platform technology to create human tissue constructs in 3D. It is focused on development of products, including 3D human tissues used for the preclinical assessment of drug effects, including applications in predictive toxicology, absorption, distribution, metabolism, excretion (ADME), and drug metabolism and pharmacokinetics (DMPK); customized human tissues as living, dynamic models of human biology or disease, for use in drug discovery and development, and three-dimensional human tissues for clinical applications, such as blood vessels for bypass grafting, nerve grafts for nerve damage repair and functional tissue patches for the repair or replacement of damaged tissues and organs.
Receive News & Ratings for Organovo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organovo and related companies with MarketBeat.com's FREE daily email newsletter.