Organovo Holdings, Inc. (NASDAQ:ONVO) Short Interest Up 22.6% in August

Organovo Holdings, Inc. (NASDAQ:ONVO) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 141,400 shares, a growth of 22.6% from the July 31st total of 115,300 shares. Based on an average daily trading volume, of 114,900 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 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. Hedge funds and other institutional investors own 8.23% of the company’s stock.

Organovo Price Performance

ONVO opened at $0.58 on Friday. The business has a fifty day moving average price of $0.63 and a 200 day moving average price of $0.88. The stock has a market capitalization of $8.33 million, a price-to-earnings ratio of -0.36 and a beta of 0.68. Organovo has a 12 month low of $0.50 and a 12 month high of $2.05.

Organovo (NASDAQ:ONVO) last released its quarterly earnings data on Friday, May 31st. The medical research company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.13. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.08 million. On average, research analysts anticipate that Organovo will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Organovo in a report on Saturday. They issued a “sell” rating on the stock.

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.