Short Interest in Organovo Holdings, Inc. (NASDAQ:ONVO) Drops By 95.9%

Organovo Holdings, Inc. (NASDAQ:ONVO) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 56,200 shares, a decrease of 95.9% from the February 28th total of 1,380,000 shares. Based on an average daily volume of 617,300 shares, the short-interest ratio is presently 0.1 days. Currently, 3.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Organovo in a research note on Wednesday, March 19th. They set a “sell” rating for the company.

Organovo Stock Performance

Shares of ONVO stock traded down $0.10 during mid-day trading on Wednesday, hitting $2.74. The company’s stock had a trading volume of 139,364 shares, compared to its average volume of 703,723. The company has a market cap of $4.66 million, a PE ratio of -3.22 and a beta of 0.45. The company’s fifty day simple moving average is $5.04 and its 200-day simple moving average is $5.17. Organovo has a 52 week low of $2.63 and a 52 week high of $21.96.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($2.28) earnings per share for the quarter, beating the consensus estimate of ($2.52) by $0.24. 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 for the quarter, compared to analyst estimates of $0.05 million. On average, equities analysts anticipate that Organovo will post -0.77 earnings per share for the current 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.