Short Interest in Organovo Holdings, Inc. (NASDAQ:ONVO) Rises By 1,651.3%

Organovo Holdings, Inc. (NASDAQ:ONVO) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,380,000 shares, an increase of 1,651.3% from the February 13th total of 78,800 shares. Based on an average daily trading volume, of 7,160,000 shares, the short-interest ratio is currently 0.2 days. Currently, 9.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Organovo in a research note on Tuesday. They issued a “sell” rating on the stock.

Organovo Price Performance

ONVO stock opened at $0.40 on Friday. The company has a market cap of $6.87 million, a P/E ratio of -0.47 and a beta of 0.45. Organovo has a 1 year low of $0.32 and a 1 year high of $1.83. The stock’s fifty day moving average price is $0.44 and its 200-day moving average price is $0.45.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Organovo had a negative return on equity of 346.26% and a negative net margin of 10,151.64%. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. As a group, analysts expect that Organovo will post -0.77 earnings per share for the current 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.