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

Organovo Holdings, Inc. (NASDAQ:ONVO) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 145,300 shares, a growth of 271.6% from the October 15th total of 39,100 shares. Based on an average trading volume of 65,300 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Organovo in a research note on Monday. They issued a “sell” rating for the company.

Hedge Funds Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC acquired a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo as of its most recent SEC filing. Institutional investors and hedge funds own 8.23% of the company’s stock.

Organovo Stock Performance

ONVO stock remained flat at $0.36 during midday trading on Wednesday. The company’s stock had a trading volume of 142,925 shares, compared to its average volume of 369,965. Organovo has a 52-week low of $0.35 and a 52-week high of $1.74. The company has a market cap of $5.53 million, a P/E ratio of -0.33 and a beta of 0.62. The stock’s 50 day moving average is $0.47 and its two-hundred day moving average is $0.67.

Organovo Company Profile

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.