Organovo Holdings, Inc. (NASDAQ:ONVO – Free Report) – Equities researchers at Zacks Small Cap upped their Q3 2024 earnings estimates for shares of Organovo in a research report issued to clients and investors on Monday, November 13th. Zacks Small Cap analyst B. Sorensen now forecasts that the medical research company will post earnings per share of ($0.41) for the quarter, up from their prior forecast of ($0.44). The consensus estimate for Organovo’s current full-year earnings is ($1.77) per share. Zacks Small Cap also issued estimates for Organovo’s Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.75) EPS, Q4 2025 earnings at ($0.49) EPS and FY2025 earnings at ($1.91) EPS.
Separately, StockNews.com initiated coverage on Organovo in a research note on Wednesday, November 8th. They issued a “sell” rating for the company.
Organovo Price Performance
Organovo stock opened at $1.52 on Wednesday. The stock’s 50 day moving average is $1.29 and its 200 day moving average is $1.53. The firm has a market cap of $13.44 million, a P/E ratio of -0.71 and a beta of 0.84. Organovo has a one year low of $1.00 and a one year high of $3.40.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP lifted its position in Organovo by 20.9% in the first quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock valued at $134,000 after purchasing an additional 10,594 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Organovo by 17.3% during the first quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock valued at $288,000 after buying an additional 19,430 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Organovo by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 283,074 shares of the medical research company’s stock valued at $580,000 after acquiring an additional 13,153 shares during the period. Hedge funds and other institutional investors own 9.14% of the company’s stock.
Organovo Holdings, Inc, a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. Its 3D human tissue platform includes its proprietary NovoGen Bioprinters, which are automated devices that enable the fabrication of 3D living tissues comprised mammalian cells; and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture.
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