Organovo Holdings, Inc. (ONVO) Downgraded by Raymond James Financial, Inc. to Market Perform

Raymond James Financial, Inc. lowered shares of Organovo Holdings, Inc. (NASDAQ:ONVO) from an outperform rating to a market perform rating in a report released on Friday morning. They currently have $5.00 target price on the stock.

Several other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded Organovo Holdings from a hold rating to a buy rating and set a $2.25 price objective for the company in a research report on Wednesday, October 11th. BidaskClub downgraded Organovo Holdings from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a buy rating and issued a $4.00 target price on shares of Organovo Holdings in a research note on Thursday, July 27th. Finally, ValuEngine cut Organovo Holdings from a sell rating to a strong sell rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Organovo Holdings has an average rating of Hold and a consensus price target of $6.00.

Shares of Organovo Holdings (ONVO) traded up $0.05 on Friday, reaching $1.54. The company’s stock had a trading volume of 1,142,600 shares, compared to its average volume of 1,075,902. Organovo Holdings has a 52-week low of $1.32 and a 52-week high of $4.08.

Organovo Holdings (NASDAQ:ONVO) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Organovo Holdings had a negative return on equity of 62.67% and a negative net margin of 923.89%. The firm had revenue of $1.36 million during the quarter, compared to the consensus estimate of $1.38 million. The company’s revenue was down 1.4% on a year-over-year basis. equities research analysts expect that Organovo Holdings will post -0.37 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Organovo Holdings by 34.0% in the 1st quarter. Bank of America Corp DE now owns 35,311 shares of the company’s stock valued at $113,000 after buying an additional 8,967 shares during the period. Voya Investment Management LLC increased its stake in shares of Organovo Holdings by 18.8% in the 2nd quarter. Voya Investment Management LLC now owns 52,032 shares of the company’s stock valued at $137,000 after buying an additional 8,225 shares during the period. American International Group Inc. increased its stake in shares of Organovo Holdings by 7.9% in the 1st quarter. American International Group Inc. now owns 53,431 shares of the company’s stock valued at $170,000 after buying an additional 3,920 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Organovo Holdings by 15.0% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the company’s stock valued at $218,000 after buying an additional 8,958 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Organovo Holdings by 141.7% in the 1st quarter. Tudor Investment Corp ET AL now owns 75,000 shares of the company’s stock valued at $238,000 after buying an additional 43,965 shares during the period. 24.02% of the stock is owned by institutional investors.

About Organovo Holdings

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