Organovo Holdings Inc (NASDAQ:ONVO) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,580,000 shares, an increase of 6.8% from the January 15th total of 1,480,000 shares. Based on an average trading volume of 726,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.2% of the company’s shares are sold short.
A number of institutional investors and hedge funds have recently bought and sold shares of ONVO. Sumitomo Mitsui Trust Holdings Inc. grew its position in Organovo by 210.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,807,832 shares of the medical research company’s stock worth $3,336,000 after acquiring an additional 8,685,367 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of Organovo by 17.5% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 12,807,832 shares of the medical research company’s stock worth $3,336,000 after buying an additional 1,903,269 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Organovo in the 4th quarter worth approximately $470,000. Renaissance Technologies LLC grew its position in shares of Organovo by 9.2% in the 4th quarter. Renaissance Technologies LLC now owns 7,023,760 shares of the medical research company’s stock worth $2,498,000 after buying an additional 591,174 shares during the last quarter. Finally, ARK Investment Management LLC grew its position in shares of Organovo by 2.9% in the 4th quarter. ARK Investment Management LLC now owns 19,499,439 shares of the medical research company’s stock worth $6,936,000 after buying an additional 550,517 shares during the last quarter. Institutional investors and hedge funds own 47.93% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Organovo from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research report on Thursday, November 14th. ValuEngine upgraded Organovo from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd.
ONVO remained flat at $$0.33 on Friday. The company had a trading volume of 246,346 shares, compared to its average volume of 606,940. The stock’s 50 day moving average price is $0.38 and its two-hundred day moving average price is $0.36. Organovo has a fifty-two week low of $0.22 and a fifty-two week high of $1.18. The company has a market capitalization of $43.46 million, a PE ratio of -1.51 and a beta of 2.19.
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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