Organovo Holdings, Inc. (NASDAQ:ONVO) Sees Large Decline in Short Interest

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Organovo in a research report on Thursday. They issued a “sell” rating on the stock.

Organovo Stock Down 3.5 %

Shares of NASDAQ ONVO opened at $2.74 on Thursday. The firm’s 50-day moving average price is $5.01 and its two-hundred day moving average price is $5.15. Organovo has a 52-week low of $2.63 and a 52-week high of $21.96. The stock has a market capitalization of $4.66 million, a P/E ratio of -3.22 and a beta of 0.45.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($2.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.52) by $0.24. Organovo had a negative return on equity of 346.26% and a negative net margin of 10,151.64%. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. As a group, equities research analysts expect 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.