Organovo (NASDAQ:ONVO) Releases Quarterly Earnings Results, Meets Expectations

Organovo (NASDAQ:ONVO) issued its quarterly earnings data on Thursday. The medical research company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.05), Bloomberg Earnings reports. The firm had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $0.77 million. Organovo had a negative net margin of 831.99% and a negative return on equity of 69.13%.

NASDAQ ONVO traded up $0.01 during trading on Friday, reaching $0.27. 1,608,574 shares of the stock traded hands, compared to its average volume of 1,049,879. The company has a market capitalization of $34.17 million, a price-to-earnings ratio of -1.19 and a beta of 1.88. The firm’s 50-day moving average is $0.45. Organovo has a fifty-two week low of $0.22 and a fifty-two week high of $1.34.

ONVO has been the subject of a number of analyst reports. ValuEngine upgraded shares of Organovo from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of Organovo from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, HC Wainwright cut shares of Organovo from a “buy” rating to a “neutral” rating in a report on Thursday.

About Organovo

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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Earnings History for Organovo (NASDAQ:ONVO)

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