BlackRock Inc. trimmed its position in Organovo (NASDAQ:ONVO) by 22.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,121,354 shares of the medical research company’s stock after selling 1,745,070 shares during the period. BlackRock Inc. owned 5.73% of Organovo worth $8,201,000 as of its most recent filing with the SEC.
Separately, Bank of New York Mellon Corp increased its holdings in Organovo by 57.1% in the fourth quarter. Bank of New York Mellon Corp now owns 669,508 shares of the medical research company’s stock valued at $898,000 after purchasing an additional 243,397 shares during the period. Hedge funds and other institutional investors own 24.87% of the company’s stock.
NASDAQ ONVO opened at $1.18 on Friday. The firm has a market capitalization of $125.25, a P/E ratio of -3.03 and a beta of 2.77. Organovo has a twelve month low of $0.91 and a twelve month high of $3.19.
Organovo (NASDAQ:ONVO) last posted its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The business had revenue of $1.15 million during the quarter, compared to the consensus estimate of $1.25 million. Organovo had a negative return on equity of 69.03% and a negative net margin of 881.93%. Organovo’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. equities analysts anticipate that Organovo will post -0.33 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded Organovo from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Organovo has an average rating of “Hold” and an average price target of $3.40.
Organovo Holdings, Inc, an early commercial stage company, designs and creates functional and three-dimensional (3D) human tissues for use in medical research and therapeutic applications. The company develops 3D human tissue models through internal development and in collaboration with pharmaceutical, academic, and other partners.
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