Organovo Holdings Inc. (ONVO) Rating Lowered to Hold at Zacks Investment Research
Organovo Holdings Inc. (NASDAQ:ONVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Organovo Holdings, Inc. is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. Its NovoGen 3D printing technology is a platform that works across various tissue and cell types. Organovo Holdings, Inc. is based in San Diego, California. “
Separately, Jefferies Group reissued a “buy” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Organovo Holdings in a report on Thursday, July 21st.
Shares of Organovo Holdings (NASDAQ:ONVO) opened at 3.71 on Thursday. The firm has a 50-day moving average of $3.92 and a 200 day moving average of $3.39. Organovo Holdings has a one year low of $1.60 and a one year high of $4.99.
Organovo Holdings (NASDAQ:ONVO) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.09) EPS for the quarter, beating 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%. Analysts anticipate that Organovo Holdings will post ($0.42) earnings per share for the current year.
In other Organovo Holdings news, EVP Eric David sold 20,000 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which is available at this link. Company insiders own 12.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Cowen Group Inc. increased its stake in Organovo Holdings by 8.6% in the second quarter. Cowen Group Inc. now owns 63,000 shares of the company’s stock worth $234,000 after buying an additional 5,000 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Organovo Holdings by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 264,596 shares of the company’s stock worth $985,000 after buying an additional 3,654 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Organovo Holdings during the second quarter worth $231,000. Rhumbline Advisers increased its stake in Organovo Holdings by 19.5% in the second quarter. Rhumbline Advisers now owns 99,758 shares of the company’s stock worth $371,000 after buying an additional 16,245 shares in the last quarter. Finally, Lehman Financial Resources Inc. increased its stake in Organovo Holdings by 1.2% in the second quarter. Lehman Financial Resources Inc. now owns 131,400 shares of the company’s stock worth $488,000 after buying an additional 1,500 shares in the last quarter. 19.11% of the stock is owned by institutional investors and hedge funds.
Organovo Holdings Company Profile
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