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

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

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Organovo in a research report on Tuesday. They set a “sell” rating for the company.

Organovo Stock Up 0.6 %

ONVO opened at $0.43 on Thursday. Organovo has a 52-week low of $0.32 and a 52-week high of $1.83. The company has a 50 day moving average of $0.44 and a two-hundred day moving average of $0.45. The company has a market cap of $7.40 million, a P/E ratio of -0.51 and a beta of 0.45.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Organovo had a negative net margin of 10,151.64% and a negative return on equity of 346.26%. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. Research analysts anticipate 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.