Organovo Holdings, Inc. (NASDAQ:ONVO) Short Interest Update

Organovo Holdings, Inc. (NASDAQ:ONVO) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 1,380,000 shares, an increase of 1,651.3% from the February 13th total of 78,800 shares. Based on an average daily volume of 7,160,000 shares, the short-interest ratio is currently 0.2 days. Approximately 9.3% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Organovo in a report on Tuesday. They set a “sell” rating for the company.

Organovo Price Performance

ONVO stock traded up $0.02 during midday trading on Wednesday, hitting $0.45. The stock had a trading volume of 502,283 shares, compared to its average volume of 9,845,264. Organovo has a 12-month low of $0.32 and a 12-month high of $1.83. The firm has a market cap of $7.64 million, a PE ratio of -0.52 and a beta of 0.45. The company’s 50-day moving average price is $0.44 and its 200 day moving average price is $0.45.

Organovo (NASDAQ:ONVO) last released its earnings results on Wednesday, February 19th. The medical research company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02. Organovo had a negative return on equity of 346.26% and a negative net margin of 10,151.64%. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. As a group, sell-side analysts anticipate that Organovo will post -0.77 EPS for the current year.

Organovo Company Profile

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.