Organovo Holdings, Inc. (ONVO) Reaches New 1-Year Low at $2.26

Organovo Holdings, Inc. (NASDAQ:ONVO)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $2.26 and last traded at $2.26, with a volume of 343,966 shares trading hands. The stock had previously closed at $2.34.

A number of brokerages have commented on ONVO. Jefferies Group LLC reiterated a “buy” rating and set a $4.00 target price (down previously from $4.50) on shares of Organovo Holdings in a report on Thursday, June 8th. BidaskClub cut Organovo Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Evercore ISI reiterated an “outperform” rating and set a $3.75 target price (down previously from $4.00) on shares of Organovo Holdings in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $6.20.

The stock has a 50 day moving average of $2.35 and a 200-day moving average of $2.80.

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

Hedge funds have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. increased its stake in shares of Organovo Holdings by 191.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 35,000 shares of the company’s stock valued at $111,000 after buying an additional 23,000 shares during the period. Bank of America Corp DE increased its stake in shares of Organovo Holdings by 34.0% in the first quarter. Bank of America Corp DE now owns 35,311 shares of the company’s stock valued at $113,000 after buying an additional 8,967 shares during the period. Voya Investment Management LLC increased its stake in shares of Organovo Holdings by 18.8% in the second quarter. Voya Investment Management LLC now owns 52,032 shares of the company’s stock valued at $137,000 after buying an additional 8,225 shares during the period. American International Group Inc. increased its stake in shares of Organovo Holdings by 7.9% in the first quarter. American International Group Inc. now owns 53,431 shares of the company’s stock valued at $170,000 after buying an additional 3,920 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Organovo Holdings by 12.7% in the first quarter. Nationwide Fund Advisors now owns 60,565 shares of the company’s stock valued at $193,000 after buying an additional 6,802 shares during the period. 22.82% of the stock is currently owned by institutional investors.

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