Renaissance Technologies LLC Has $48,000 Stake in Organovo Holdings, Inc. (NASDAQ:ONVO)

Renaissance Technologies LLC trimmed its stake in Organovo Holdings, Inc. (NASDAQ:ONVO) by 35.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,387 shares of the medical research company’s stock after selling 34,400 shares during the period. Renaissance Technologies LLC’s holdings in Organovo were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Organovo in a research report on Thursday, October 10th. They issued a “sell” rating on the stock.

Organovo Stock Performance

Shares of Organovo stock opened at $0.43 on Tuesday. The firm’s 50-day simple moving average is $0.53 and its 200-day simple moving average is $0.76. Organovo Holdings, Inc. has a twelve month low of $0.43 and a twelve month high of $2.05. The firm has a market cap of $6.13 million, a P/E ratio of -0.27 and a beta of 0.61.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Monday, August 5th. The medical research company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.15. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.03 million. On average, equities analysts forecast that Organovo Holdings, Inc. will post -0.96 earnings per share for the current fiscal year.

Organovo Profile

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.