Organovo Holdings Inc. (NASDAQ:ONVO) Given $4.75 Average Target Price by Analysts
Organovo Holdings Inc. (NASDAQ:ONVO) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus price target of $4.75 for the company and are forecasting that the company will post ($0.11) earnings per share for the current quarter, according to Zacks. Zacks has also given Organovo Holdings an industry rank of 92 out of 265 based on the ratings given to its competitors.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Organovo Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Jefferies Group reaffirmed a “buy” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Organovo Holdings in a research note on Thursday, July 21st.
Organovo Holdings (NASDAQ:ONVO) traded down 1.99% during mid-day trading on Tuesday, hitting $3.94. The stock had a trading volume of 426,712 shares. The stock’s market cap is $365.06 million. Organovo Holdings has a 12 month low of $1.60 and a 12 month high of $4.99. The stock’s 50-day moving average price is $4.17 and its 200-day moving average price is $3.24.
Organovo Holdings (NASDAQ:ONVO) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Organovo Holdings had a negative return on equity of 59.27% and a negative net margin of 1,878.68%. On average, analysts predict that Organovo Holdings will post ($0.42) earnings per share for the current year.
In related news, EVP Eric David sold 20,000 shares of Organovo Holdings stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $4.55, for a total transaction of $91,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.50% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Cowen Group Inc. increased its stake in shares of Organovo Holdings by 8.6% in the second quarter. Cowen Group Inc. now owns 63,000 shares of the company’s stock valued at $234,000 after buying an additional 5,000 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Organovo Holdings by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 264,596 shares of the company’s stock valued at $985,000 after buying an additional 3,654 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of Organovo Holdings during the second quarter valued at about $231,000. Rhumbline Advisers increased its stake in shares of Organovo Holdings by 19.5% in the second quarter. Rhumbline Advisers now owns 99,758 shares of the company’s stock valued at $371,000 after buying an additional 16,245 shares during the period. Finally, Lehman Financial Resources Inc. increased its stake in shares of Organovo Holdings by 1.2% in the second quarter. Lehman Financial Resources Inc. now owns 131,400 shares of the company’s stock valued at $488,000 after buying an additional 1,500 shares during the period. 19.11% of the stock is currently owned by institutional investors.
Organovo Holdings Company Profile
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