Organovo Holdings, Inc. (ONVO) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Organovo Holdings, Inc. (NASDAQ:ONVO) from a hold rating to a buy rating in a research note released on Wednesday. The firm currently has $2.25 price target on the stock.

According to Zacks, “Organovo Holdings, Inc. is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. Its NovoGen 3D printing technology is a platform that works across various tissue and cell types. Organovo Holdings, Inc. is based in San Diego, California. “

A number of other brokerages have also recently commented on ONVO. BidaskClub cut Organovo Holdings from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a buy rating and issued a $4.00 price target on shares of Organovo Holdings in a research report on Thursday, July 27th. Finally, ValuEngine cut Organovo Holdings from a sell rating to a strong sell rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Organovo Holdings has an average rating of Hold and an average price target of $6.00.

Organovo Holdings (ONVO) traded down 10.45% on Wednesday, hitting $1.50. The stock had a trading volume of 3,687,995 shares. Organovo Holdings has a 52 week low of $1.46 and a 52 week high of $4.08. The company’s market capitalization is $159.18 million. The firm has a 50-day moving average of $2.06 and a 200 day moving average of $2.50.

Organovo Holdings (NASDAQ:ONVO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.92 million. Organovo Holdings had a negative return on equity of 65.49% and a negative net margin of 918.97%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts predict that Organovo Holdings will post ($0.39) earnings per share for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of ONVO. ARK Investment Management LLC increased its position in Organovo Holdings by 134.5% in the second quarter. ARK Investment Management LLC now owns 1,445,039 shares of the company’s stock worth $3,800,000 after buying an additional 828,787 shares in the last quarter. Vanguard Group Inc. increased its position in Organovo Holdings by 8.5% in the first quarter. Vanguard Group Inc. now owns 4,250,017 shares of the company’s stock worth $13,515,000 after buying an additional 333,034 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in Organovo Holdings in the first quarter worth about $321,000. UBS Group AG increased its position in Organovo Holdings by 31.3% in the first quarter. UBS Group AG now owns 1,289,100 shares of the company’s stock worth $4,099,000 after buying an additional 306,982 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Organovo Holdings by 44.6% in the first quarter. Geode Capital Management LLC now owns 955,299 shares of the company’s stock worth $3,037,000 after buying an additional 294,861 shares in the last quarter. Institutional investors and hedge funds own 23.94% of the company’s stock.

Organovo Holdings Company Profile

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