Organovo Holdings, Inc. (NASDAQ:ONVO) Sees Large Decrease in Short Interest

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

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Organovo in a research note on Thursday. They set a “sell” rating for the company.

Organovo Price Performance

NASDAQ:ONVO traded up $0.08 during mid-day trading on Friday, hitting $2.45. The company’s stock had a trading volume of 51,876 shares, compared to its average volume of 684,558. The business’s fifty day moving average is $4.97 and its two-hundred day moving average is $5.13. The stock has a market cap of $4.17 million, a price-to-earnings ratio of -2.88 and a beta of 0.45. Organovo has a 1 year low of $2.14 and a 1 year high of $21.96.

Organovo (NASDAQ:ONVO) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($2.28) EPS for the quarter, topping the consensus estimate of ($2.52) by $0.24. Organovo had a negative return on equity of 346.26% and a negative net margin of 10,151.64%. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. Analysts anticipate that Organovo will post -0.77 EPS for the current fiscal 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.