Organovo Holdings, Inc. (NASDAQ:ONVO) Short Interest Down 18.7% in July

Organovo Holdings, Inc. (NASDAQ:ONVO) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 80,000 shares, a decrease of 18.7% from the June 30th total of 98,400 shares. Based on an average trading volume of 170,300 shares, the days-to-cover ratio is currently 0.5 days.

Organovo Stock Performance

ONVO stock remained flat at $0.57 during mid-day trading on Tuesday. 30,231 shares of the company’s stock were exchanged, compared to its average volume of 526,504. Organovo has a 52 week low of $0.55 and a 52 week high of $2.05. The stock has a market capitalization of $8.12 million, a P/E ratio of -0.35 and a beta of 0.68. The stock has a 50-day moving average of $0.81 and a two-hundred day moving average of $0.95.

Organovo (NASDAQ:ONVO) last posted its quarterly earnings data on Friday, May 31st. The medical research company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.13. The firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.08 million. Research analysts forecast that Organovo will post -1.4 earnings per share for the current year.

Analysts Set New Price Targets

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

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.