Shares of Organovo Holdings Inc. (NASDAQ:ONVO) have been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus target price of $4.75 for the company and are predicting that the company will post ($0.11) earnings per share for the current quarter, according to Zacks. Zacks has also given Organovo Holdings an industry rank of 91 out of 265 based on the ratings given to its competitors.
Several research analysts have weighed in on the company. Zacks Investment Research raised Organovo Holdings from a “sell” rating to a “hold” rating and set a $5.25 price objective on the stock in a research report on Wednesday, August 10th. Jefferies Group reissued a “buy” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Organovo Holdings in a research report on Thursday, July 21st.
In other news, EVP Eric David sold 20,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $4.55, for a total transaction of $91,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cowen Group Inc. raised its stake in Organovo Holdings by 8.6% in the second quarter. Cowen Group Inc. now owns 63,000 shares of the company’s stock worth $234,000 after buying an additional 5,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Organovo Holdings by 9.1% in the second quarter. Vanguard Group Inc. now owns 3,376,661 shares of the company’s stock worth $12,561,000 after buying an additional 281,330 shares during the last quarter. Penbrook Management LLC raised its stake in Organovo Holdings by 35.8% in the second quarter. Penbrook Management LLC now owns 266,475 shares of the company’s stock worth $992,000 after buying an additional 70,250 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Organovo Holdings by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 377,437 shares of the company’s stock worth $1,404,000 after buying an additional 14,315 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Organovo Holdings by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 264,596 shares of the company’s stock worth $985,000 after buying an additional 3,654 shares during the last quarter. 19.11% of the stock is currently owned by hedge funds and other institutional investors.
Organovo Holdings (NASDAQ:ONVO) opened at 4.00 on Tuesday. The firm’s 50-day moving average price is $4.13 and its 200 day moving average price is $3.26. The company’s market cap is $370.62 million. Organovo Holdings has a 52-week low of $1.60 and a 52-week high of $4.99.
Organovo Holdings (NASDAQ:ONVO) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Organovo Holdings had a negative return on equity of 59.27% and a negative net margin of 1,878.68%. On average, equities analysts predict that Organovo Holdings will post ($0.42) EPS for the current fiscal year.
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