Equities research analysts expect that Organovo Holdings Inc (NASDAQ:ONVO) will post $1.05 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Organovo’s earnings, with the lowest sales estimate coming in at $800,000.00 and the highest estimate coming in at $1.30 million. Organovo reported sales of $1.15 million in the same quarter last year, which indicates a negative year-over-year growth rate of 8.7%. The business is scheduled to announce its next earnings report on Thursday, February 14th.
On average, analysts expect that Organovo will report full-year sales of $3.87 million for the current financial year, with estimates ranging from $3.25 million to $4.50 million. For the next financial year, analysts anticipate that the company will post sales of $4.36 million, with estimates ranging from $2.51 million to $6.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Organovo.
Organovo (NASDAQ:ONVO) last posted its earnings results on Thursday, November 8th. The medical research company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $0.94 million during the quarter, compared to analysts’ expectations of $0.90 million. Organovo had a negative net margin of 732.47% and a negative return on equity of 65.73%.
Shares of ONVO stock traded down $0.01 on Monday, reaching $1.01. The company had a trading volume of 262,600 shares, compared to its average volume of 861,399. The stock has a market capitalization of $118.21 million, a P/E ratio of -3.16 and a beta of 2.51. Organovo has a one year low of $0.90 and a one year high of $2.09.
Several hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC lifted its holdings in shares of Organovo by 20.8% in the third quarter. ARK Investment Management LLC now owns 17,951,107 shares of the medical research company’s stock worth $20,644,000 after acquiring an additional 3,090,669 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Organovo by 1.5% in the third quarter. BlackRock Inc. now owns 7,068,897 shares of the medical research company’s stock worth $8,129,000 after acquiring an additional 102,486 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Organovo by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,771,558 shares of the medical research company’s stock worth $5,487,000 after acquiring an additional 52,073 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Organovo by 25.4% in the third quarter. Renaissance Technologies LLC now owns 1,561,000 shares of the medical research company’s stock worth $1,795,000 after acquiring an additional 316,400 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Organovo by 44.4% in the first quarter. UBS Group AG now owns 888,385 shares of the medical research company’s stock worth $915,000 after acquiring an additional 273,029 shares during the last quarter. 35.91% of the stock is owned by hedge funds and other institutional investors.
Organovo Company Profile
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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