Trade Report: Today: Organovo Holdings Inc. (ONVO) Coverage Initiated at Evercore ISI

Today: Organovo Holdings Inc. (ONVO) Coverage Initiated at Evercore ISI

Equities research analysts at Evercore ISI initiated 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 target indicates a potential upside of 42.41% from the stock’s current price.

Separately, Zacks Investment Research upgraded shares of Organovo Holdings from a “sell” rating to a “hold” rating and set a $5.25 price objective on the stock in a research note on Wednesday, August 10th.

Organovo Holdings (NASDAQ:ONVO) traded down 4.86% during midday trading on Monday, hitting $3.13. 895,349 shares of the stock were exchanged. Organovo Holdings has a 52 week low of $1.60 and a 52 week high of $4.99. The firm’s 50-day moving average is $3.16 and its 200 day moving average is $3.54.

Organovo Holdings (NASDAQ:ONVO) last released 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 firm had revenue of $1.38 million for 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 anticipate that Organovo Holdings will post ($0.39) earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the company. Lehman Financial Resources Inc. raised its stake in Organovo Holdings by 1.2% in the second quarter. Lehman Financial Resources Inc. now owns 131,400 shares of the company’s stock valued at $488,000 after buying an additional 1,500 shares during the period. California State Teachers Retirement System boosted its position in Organovo Holdings by 0.9% in the third quarter. California State Teachers Retirement System now owns 182,236 shares of the company’s stock valued at $691,000 after buying an additional 1,700 shares during the period. Cue Financial Group Inc. boosted its position in Organovo Holdings by 4.8% in the third quarter. Cue Financial Group Inc. now owns 44,000 shares of the company’s stock valued at $167,000 after buying an additional 2,000 shares during the period. BlackRock Advisors LLC boosted its position in Organovo Holdings by 8.6% in the third quarter. BlackRock Advisors LLC now owns 42,893 shares of the company’s stock valued at $163,000 after buying an additional 3,384 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position 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 valued at $985,000 after buying an additional 3,654 shares during the period. Hedge funds and other institutional investors own 18.44% of the company’s stock.

Organovo Holdings Company Profile

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