Short Interest in Organovo Holdings, Inc. (NASDAQ:ONVO) Drops By 11.1%

Organovo Holdings, Inc. (NASDAQ:ONVOGet Rating) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 291,600 shares, a decline of 11.1% from the February 13th total of 327,900 shares. Based on an average daily volume of 111,700 shares, the short-interest ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

Separately, began coverage on Organovo in a research report on Monday. They set a “sell” rating on the stock.

Organovo Stock Down 2.1 %

Shares of Organovo stock opened at $1.83 on Monday. The stock’s fifty day moving average is $1.98 and its 200-day moving average is $1.89. The firm has a market capitalization of $15.94 million, a PE ratio of -1.34 and a beta of 0.89. Organovo has a 12-month low of $1.37 and a 12-month high of $4.11.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Organovo stock. Vanguard Group Inc. increased its holdings in shares of Organovo Holdings, Inc. (NASDAQ:ONVOGet Rating) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,074 shares of the medical research company’s stock after buying an additional 13,153 shares during the quarter. Vanguard Group Inc. owned 3.25% of Organovo worth $580,000 as of its most recent filing with the Securities and Exchange Commission. 23.07% of the stock is currently owned by institutional investors and hedge funds.

About Organovo

(Get Rating)

Organovo Holdings, Inc is engaged in the development of bioprinted human tissues that emulate human biology and disease. Its three-dimensional human tissue platform is enabled by its proprietary NovoGen Bioprinters and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture.

Further Reading

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