Organovo Holdings, Inc. (NASDAQ:ONVO) Sees Large Decrease in Short Interest

Organovo Holdings, Inc. (NASDAQ:ONVO) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 56,200 shares, a drop of 95.9% from the February 28th total of 1,380,000 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average trading volume of 617,300 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Organovo in a report on Thursday. They issued a “sell” rating for the company.

Organovo Trading Up 3.4 %

Shares of NASDAQ:ONVO traded up $0.08 on Friday, reaching $2.45. The company had a trading volume of 51,876 shares, compared to its average volume of 684,558. The firm has a market capitalization of $4.17 million, a PE ratio of -2.88 and a beta of 0.45. Organovo has a 52-week low of $2.14 and a 52-week high of $21.96. The firm’s 50 day simple moving average is $4.97 and its 200-day simple moving average is $5.13.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($2.28) EPS for the quarter, beating the consensus estimate of ($2.52) by $0.24. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. Organovo had a negative net margin of 10,151.64% and a negative return on equity of 346.26%. As a group, equities research analysts predict 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.