Organovo (NASDAQ:ONVO) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Organovo (NASDAQ:ONVO) issued its earnings results on Wednesday. The medical research company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02, Zacks reports. Organovo had a negative net margin of 12,176.70% and a negative return on equity of 249.28%.

Organovo Stock Performance

Shares of NASDAQ ONVO traded up $0.01 during midday trading on Wednesday, reaching $0.40. The company’s stock had a trading volume of 30,464 shares, compared to its average volume of 159,223. Organovo has a fifty-two week low of $0.32 and a fifty-two week high of $1.74. The business’s 50 day moving average price is $0.38 and its two-hundred day moving average price is $0.45. The company has a market cap of $6.07 million, a P/E ratio of -0.37 and a beta of 0.54.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Organovo in a report on Saturday. They issued a “sell” rating on the stock.

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.