Organovo (NASDAQ:ONVO) gapped up before the market opened on Tuesday . The stock had previously closed at $1.50, but opened at $1.55. Organovo shares last traded at $1.74, with a volume of 2737370 shares trading hands.
Several equities research analysts have recently commented on ONVO shares. Zacks Investment Research raised shares of Organovo from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Thursday, March 8th. ValuEngine raised shares of Organovo from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.40.
The stock has a market cap of $192.85 million, a P/E ratio of -4.46 and a beta of 2.71.
Institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its holdings in Organovo by 124.3% in the 4th quarter. ARK Investment Management LLC now owns 5,891,552 shares of the medical research company’s stock worth $7,895,000 after acquiring an additional 3,264,848 shares in the last quarter. Penbrook Management LLC purchased a new stake in Organovo in the 4th quarter worth approximately $361,000. Bank of New York Mellon Corp increased its holdings in Organovo by 57.1% in the 4th quarter. Bank of New York Mellon Corp now owns 669,508 shares of the medical research company’s stock worth $898,000 after acquiring an additional 243,397 shares in the last quarter. Anson Funds Management LP purchased a new stake in Organovo in the 4th quarter worth approximately $281,000. Finally, Paloma Partners Management Co purchased a new stake in Organovo in the 4th quarter worth approximately $130,000. 24.86% of the stock is owned by institutional investors.
Organovo Company Profile
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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