Organovo Holdings, Inc. (NASDAQ:ONVO) Sees Significant Growth in Short Interest

Organovo Holdings, Inc. (NASDAQ:ONVO) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 73,400 shares, a growth of 30.6% from the March 15th total of 56,200 shares. Based on an average daily volume of 632,900 shares, the days-to-cover ratio is currently 0.1 days. Approximately 4.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Organovo Price Performance

Shares of ONVO stock opened at $1.72 on Monday. Organovo has a one year low of $1.56 and a one year high of $21.96. The company has a market cap of $2.93 million, a P/E ratio of -2.02 and a beta of 1.13. The firm has a 50-day moving average of $4.14 and a 200-day moving average of $4.62.

Organovo (NASDAQ:ONVO) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($2.28) EPS for the quarter, topping the consensus estimate of ($2.52) by $0.24. The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations 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, research analysts expect that Organovo will post -0.77 earnings per share for the current fiscal year.

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.