Short Interest in Organovo Holdings, Inc. (NASDAQ:ONVO) Declines By 18.7%

Organovo Holdings, Inc. (NASDAQ:ONVO) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 80,000 shares, a decline of 18.7% from the June 30th total of 98,400 shares. Based on an average daily volume of 170,300 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Organovo in a research note on Saturday, July 13th. They set a “sell” rating on the stock.

Organovo Trading Up 2.7 %

ONVO traded up $0.02 on Friday, hitting $0.59. 65,201 shares of the stock traded hands, compared to its average volume of 164,572. Organovo has a 52 week low of $0.55 and a 52 week high of $2.05. The firm has a market capitalization of $8.47 million, a PE ratio of -0.37 and a beta of 0.68. The business has a fifty day moving average price of $0.82 and a two-hundred day moving average price of $0.96.

Organovo (NASDAQ:ONVO) last released its quarterly earnings data on Friday, May 31st. The medical research company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.13. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.08 million. On average, equities research analysts forecast that Organovo will post -1.4 EPS for the current fiscal year.

Organovo Company Profile

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.