Organovo Holdings, Inc. (NASDAQ:ONVO) Short Interest Down 57.2% in September

Posted by MarketBeat News on Sep 26th, 2024

Organovo Holdings, Inc. (NASDAQ:ONVO – Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 37,300 shares, a decrease of 57.2% from the August 31st total of 87,100 shares. Based on an average daily volume of 91,800 shares, the short-interest ratio is currently 0.4 days.

Organovo Trading Down 0.9 %

ONVO stock traded down $0.00 during mid-day trading on Thursday, hitting $0.44. 56,409 shares of the company were exchanged, compared to its average volume of 423,263. The firm has a fifty day simple moving average of $0.56 and a 200 day simple moving average of $0.81. The company has a market capitalization of $6.30 million, a PE ratio of -0.27 and a beta of 0.62. Organovo has a twelve month low of $0.43 and a twelve month high of $2.05.

Institutional Trading of Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new position in Organovo Holdings, Inc. (NASDAQ:ONVO – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo at the end of the most recent quarter. Institutional investors and hedge funds own 8.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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Separately, StockNews.com assumed coverage on shares of Organovo in a research report on Tuesday. They set a “sell” rating for the company.

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Organovo Company Profile

(Get Free Report)

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.