Wall Street brokerages predict that Organovo Holdings Inc (NASDAQ:ONVO) will post sales of $900,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Organovo’s earnings, with the highest sales estimate coming in at $1.10 million and the lowest estimate coming in at $710,000.00. Organovo posted sales of $1.36 million during the same quarter last year, which would indicate a negative year over year growth rate of 33.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Organovo will report full-year sales of $3.67 million for the current year, with estimates ranging from $2.84 million to $4.50 million. For the next year, analysts expect that the firm will report sales of $4.75 million per share, with estimates ranging from $3.30 million to $6.20 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Organovo.
Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Thursday, August 9th. The medical research company reported ($0.07) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.07). Organovo had a negative net margin of 746.56% and a negative return on equity of 68.85%. The firm had revenue of $0.69 million for the quarter, compared to the consensus estimate of $1.16 million.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Organovo from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $1.75 price objective on shares of Organovo in a research report on Friday, July 27th. Finally, ValuEngine raised shares of Organovo from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $2.75.
ONVO traded down $0.01 on Tuesday, reaching $1.24. 548,100 shares of the company traded hands, compared to its average volume of 976,786. Organovo has a 52-week low of $0.91 and a 52-week high of $2.38. The company has a market capitalization of $144.08 million, a PE ratio of -3.88 and a beta of 2.78.
A number of hedge funds and other institutional investors have recently bought and sold shares of ONVO. ARK Investment Management LLC lifted its stake in Organovo by 32.1% in the second quarter. ARK Investment Management LLC now owns 14,860,438 shares of the medical research company’s stock valued at $20,805,000 after acquiring an additional 3,614,856 shares during the last quarter. BlackRock Inc. lifted its stake in Organovo by 14.8% in the second quarter. BlackRock Inc. now owns 6,966,411 shares of the medical research company’s stock valued at $9,753,000 after acquiring an additional 897,113 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Organovo by 179.2% in the second quarter. Renaissance Technologies LLC now owns 1,244,600 shares of the medical research company’s stock valued at $1,742,000 after acquiring an additional 798,800 shares during the last quarter. UBS Group AG lifted its stake in Organovo by 44.4% in the first quarter. UBS Group AG now owns 888,385 shares of the medical research company’s stock valued at $915,000 after acquiring an additional 273,029 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Organovo in the fourth quarter valued at approximately $269,000. Hedge funds and other institutional investors own 33.37% of the company’s stock.
Organovo Holdings, Inc, a biotechnology company, provides therapeutic and drug profiling capabilities based on its 3D bioprint tissues that emulate human biology and diseases. 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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