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

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on Organovo in a report on Thursday. They set a “sell” rating on the stock.

Organovo Trading Down 3.5 %

Organovo stock opened at $2.74 on Thursday. Organovo has a 52 week low of $2.63 and a 52 week high of $21.96. The stock has a market cap of $4.66 million, a price-to-earnings ratio of -3.22 and a beta of 0.45. The company’s 50-day moving average price is $5.01 and its two-hundred day moving average price is $5.15.

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