Organovo (NASDAQ:ONVO) Posts Quarterly Earnings Results, Hits Estimates

Organovo (NASDAQ:ONVO) released its quarterly earnings results on Thursday. The medical research company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05), Bloomberg Earnings reports. The company 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%.

Shares of Organovo stock traded up $0.01 on Friday, hitting $0.27. The company had a trading volume of 1,608,574 shares, compared to its average volume of 1,049,879. Organovo has a twelve month low of $0.22 and a twelve month high of $1.34. The company has a 50-day simple moving average of $0.45. The company has a market capitalization of $34.17 million, a price-to-earnings ratio of -1.19 and a beta of 1.88.

ONVO has been the subject of several research 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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