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

Organovo Holdings, Inc. (NASDAQ:ONVO) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 145,300 shares, a growth of 271.6% from the October 15th total of 39,100 shares. Based on an average daily volume of 65,300 shares, the short-interest ratio is currently 2.2 days.

Analysts Set New Price Targets

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

Organovo Stock Performance

Shares of NASDAQ:ONVO remained flat at $0.36 on Wednesday. 142,925 shares of the company’s stock traded hands, compared to its average volume of 369,965. The company has a market cap of $5.53 million, a PE ratio of -0.33 and a beta of 0.62. The stock’s fifty day moving average is $0.47 and its 200 day moving average is $0.67. Organovo has a 12-month low of $0.35 and a 12-month high of $1.74.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo as of its most recent SEC filing. 8.23% of the stock is owned by institutional investors.

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.