Trade Report: Today: Evercore ISI Begins Coverage on Organovo Holdings Inc. (ONVO)

Today: Evercore ISI Begins Coverage on Organovo Holdings Inc. (ONVO)

Equities research analysts at Evercore ISI assumed coverage on shares of Organovo Holdings Inc. (NASDAQ:ONVO) in a research report issued on Monday. The firm set a “buy” rating and a $4.50 price target on the stock. Evercore ISI’s price objective points to a potential upside of 42.41% from the stock’s current price.

Separately, Zacks Investment Research upgraded shares of Organovo Holdings from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Wednesday, November 9th.

Shares of Organovo Holdings (NASDAQ:ONVO) traded down 4.86% during mid-day trading on Monday, reaching $3.13. 895,349 shares of the company were exchanged. The stock has a 50 day moving average price of $3.16 and a 200-day moving average price of $3.54. Organovo Holdings has a 12 month low of $1.60 and a 12 month high of $4.99.

Organovo Holdings (NASDAQ:ONVO) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business earned $1.38 million during the quarter. Organovo Holdings had a negative net margin of 1,178.36% and a negative return on equity of 62.11%. On average, equities analysts forecast that Organovo Holdings will post ($0.39) EPS for the current year.

Several institutional investors have recently made changes to their positions in ONVO. Cowen Group Inc. boosted its position in shares of 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. Lehman Financial Resources Inc. boosted its position in shares of Organovo Holdings by 1.2% in the second quarter. Lehman Financial Resources Inc. now owns 131,400 shares of the company’s stock worth $488,000 after buying an additional 1,500 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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. Schwab Charles Investment Management Inc. boosted its position in shares of 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. Finally, Quotient Investors LLC acquired a new position in shares of Organovo Holdings during the third quarter worth approximately $355,000. 18.44% of the stock is currently owned by institutional investors and hedge funds.

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