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

Organovo Holdings, Inc. (NASDAQ:ONVO) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 106,300 shares, a drop of 22.2% from the November 15th total of 136,600 shares. Based on an average trading volume of 140,100 shares, the days-to-cover ratio is currently 0.8 days.

Organovo Price Performance

Shares of NASDAQ:ONVO remained flat at $0.40 during midday trading on Friday. 87,103 shares of the stock were exchanged, compared to its average volume of 362,286. The firm has a fifty day moving average price of $0.43 and a two-hundred day moving average price of $0.58. Organovo has a 1 year low of $0.32 and a 1 year high of $1.74. The firm has a market capitalization of $6.22 million, a price-to-earnings ratio of -0.38 and a beta of 0.53.

Institutional Investors Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo at the end of the most recent quarter. 8.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Organovo in a research report on Friday. They set 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.