Organovo Holdings, Inc. (NASDAQ:ONVO) Short Interest Up 30.6% in March

Organovo Holdings, Inc. (NASDAQ:ONVO) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 73,400 shares, an increase of 30.6% from the March 15th total of 56,200 shares. Based on an average daily volume of 632,900 shares, the short-interest ratio is presently 0.1 days. Currently, 4.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Organovo in a research report on Sunday. They set a “sell” rating for the company.

Organovo Stock Performance

Shares of NASDAQ ONVO opened at $1.72 on Monday. The stock has a market cap of $2.93 million, a P/E ratio of -2.02 and a beta of 1.13. The firm has a 50 day moving average price of $4.14 and a two-hundred day moving average price of $4.62. Organovo has a 52-week low of $1.56 and a 52-week high of $21.96.

Organovo (NASDAQ:ONVO) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($2.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.52) by $0.24. The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Organovo had a negative return on equity of 346.26% and a negative net margin of 10,151.64%. Analysts predict that Organovo will post -0.77 earnings per share for the current fiscal 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.