Zacks Investment Research cut shares of Organovo (NASDAQ:ONVO) from a buy rating to a hold rating in a research note issued to investors on Wednesday, December 27th.
According to Zacks, “Organovo Holdings, Inc. is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. Its NovoGen 3D printing technology is a platform that works across various tissue and cell types. Organovo Holdings, Inc. is based in San Diego, California. “
A number of other analysts have also weighed in on the stock. BTIG Research reissued a buy rating and issued a $3.00 price objective on shares of Organovo in a research report on Thursday, November 16th. Citigroup downgraded shares of Organovo to a market perform rating in a research note on Friday, November 10th. Raymond James Financial downgraded shares of Organovo from an outperform rating to a market perform rating and set a $5.00 target price on the stock. in a research note on Friday, November 10th. Jefferies Group restated a buy rating and issued a $4.00 target price on shares of Organovo in a research note on Tuesday, September 26th. Finally, ValuEngine downgraded shares of Organovo 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, three have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $3.60.
Shares of Organovo (NASDAQ ONVO) opened at $1.40 on Wednesday. The company has a market cap of $149.69, a price-to-earnings ratio of -3.68 and a beta of 3.08. Organovo has a one year low of $1.32 and a one year high of $3.85.
Organovo (NASDAQ:ONVO) last announced its earnings results on Thursday, November 9th. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Organovo had a negative net margin of 923.89% and a negative return on equity of 65.63%. The firm had revenue of $1.36 million for the quarter, compared to analysts’ expectations of $1.38 million. Organovo’s quarterly revenue was down 1.4% compared to the same quarter last year. analysts expect that Organovo will post -0.36 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in ONVO. Schwab Charles Investment Management Inc. boosted its stake in Organovo by 32.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 385,659 shares of the medical research company’s stock valued at $1,227,000 after acquiring an additional 95,177 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Organovo by 34.0% in the first quarter. Bank of America Corp DE now owns 35,311 shares of the medical research company’s stock worth $113,000 after buying an additional 8,967 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Organovo by 15.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the medical research company’s stock worth $218,000 after buying an additional 8,958 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Organovo by 4.4% in the second quarter. Rhumbline Advisers now owns 110,444 shares of the medical research company’s stock worth $290,000 after buying an additional 4,640 shares during the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in shares of Organovo in the second quarter worth $196,000. Institutional investors own 25.78% of the company’s stock.
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