Citigroup Inc. lowered shares of Organovo Holdings, Inc. (NASDAQ:ONVO) to a market perform rating in a research note issued to investors on Friday, The Fly reports.

ONVO has been the subject of several other reports. ValuEngine lowered shares of Organovo Holdings from a sell rating to a strong sell rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Organovo Holdings from a hold rating to a buy rating and set a $2.25 target price for the company in a research report on Wednesday, October 11th. Jefferies Group LLC reiterated a buy rating and set a $4.00 target price on shares of Organovo Holdings in a research report on Thursday, July 27th. Raymond James Financial, Inc. lowered shares of Organovo Holdings from an outperform rating to a market perform rating and set a $5.00 target price for the company. in a research report on Friday. Finally, BidaskClub lowered shares of Organovo Holdings from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $6.00.

Shares of Organovo Holdings (NASDAQ ONVO) traded down $0.12 during trading on Friday, reaching $1.42. 928,400 shares of the company’s stock traded hands, compared to its average volume of 1,075,229. Organovo Holdings has a twelve month low of $1.32 and a twelve month high of $4.08.

Organovo Holdings (NASDAQ:ONVO) last announced its earnings results on Thursday, November 9th. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Organovo Holdings had a negative net margin of 923.89% and a negative return on equity of 62.67%. The business had revenue of $1.36 million during the quarter, compared to analyst estimates of $1.38 million. Organovo Holdings’s revenue was down 1.4% on a year-over-year basis. equities research analysts anticipate that Organovo Holdings will post -0.37 EPS for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Organovo Holdings by 1.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 91,204 shares of the medical research company’s stock worth $240,000 after acquiring an additional 890 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Organovo Holdings by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 388,300 shares of the medical research company’s stock worth $1,022,000 after acquiring an additional 2,641 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Organovo Holdings by 7.9% in the 1st quarter. American International Group Inc. now owns 53,431 shares of the medical research company’s stock worth $170,000 after acquiring an additional 3,920 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Organovo Holdings by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 110,444 shares of the medical research company’s stock worth $290,000 after acquiring an additional 4,640 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Organovo Holdings by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,408 shares of the medical research company’s stock worth $217,000 after acquiring an additional 7,098 shares during the last quarter. Hedge funds and other institutional investors own 24.20% of the company’s stock.

About Organovo Holdings

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Analyst Recommendations for Organovo Holdings (NASDAQ:ONVO)

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