Stick With Organovo Holdings Inc. (ONVO). The Bull Are Alive And Well

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ARK Investment Management LLC recently announced the acquisition of new stake in Organovo Holdings Inc. (NASDAQ:ONVO). The institutional investor has increased its shareholding in the Healthcare company by 17.50% to 22.91 million shares with purchase of 3.41 million shares. This fresh investment now brings its stake to 17.55% valued currently at $12.6 million. In addition, Renaissance Technologies LLC raised its holdings by 0.27 million to 7.29 million shares.

With over 0.84 million Organovo Holdings Inc. (ONVO) shares trading Wednesday and a closing price of $0.70 on the day, the dollar volume was approximately $0.59 million. The shares have shown a negative weekly performance of -10.44% and its price on 07/28/20 lost nearly -1.62%. Currently, there are 130.52M common shares owned by the public and among those 130.06M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for ONVO have a consensus price objective of $1.50. The analysts have set the share’s price value over the next 12 months at a high of $1.50 and a low of $1.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Organovo Holdings Inc. stock is 3.00 for the next 12 months. But an upside of 53.33% will see the stock hit the forecast high price target while mean target price for the stock is $1.50.

Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 170,915 shares.

The top 3 mutual fund holders in Organovo Holdings Inc. are ARK Innovation ETF, Nikko AM Global Umbrella Fund – A, and ARK Genomic Revolution ETF. ARK Innovation ETF owns 17.0 million shares of the company’s stock, all valued at over $9.35 million. Nikko AM Global Umbrella Fund – A bought 8.19 million shares to see its total holdings expand to 8.34 million shares valued at over $4.59 million and representing 6.39% of the shares outstanding. ARK Genomic Revolution ETF now owns shares totaling to 5.86% of the shares outstanding.

Shares of Organovo Holdings Inc. (NASDAQ: ONVO) opened at $0.76, up $0.05 from a prior closing price of $0.71. However, the script later closed the day at $0.70, down -1.62%. The company’s stock has a 5-day price change of -10.44% and 69.55% over the past three months. ONVO shares are trading 99.30% year to date (YTD), with the 12-month market performance up to 67.39% higher. It has a 12-month low price of $0.19 and touched a high of $0.93 over the same period. Currently, 0.84 million shares have been traded, compared to an average intraday trading volume of 1.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.94%, 11.22%, and 58.21% respectively.

Institutional ownership of Organovo Holdings Inc. (NASDAQ: ONVO) shares accounts for 40.40% of the company’s 130.52M shares outstanding. Mutual fund holders own 18.48%, while other institutional holders and individual stakeholders account for 31.62% and 10.08% respectively.

It has a market capitalization of $98.08M and a beta (3y monthly) value of 1.20. The earnings-per-share (ttm) stands at -$0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.28% over the week and 13.84% over the month.

Analysts forecast that Organovo Holdings Inc. (ONVO) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Organovo Holdings Inc. (ONVO) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the ONVO, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on December 13, 2018, with the firm’s price target at $2.50. Raymond James coverage for the Organovo Holdings Inc. (ONVO) stock in a research note released on November 10, 2017 offered a Mkt Perform rating with a price target of. Raymond James was of a view on January 25, 2017 that the stock is Outperform, while Cantor Fitzgerald gave the stock Hold rating on August 11, 2015, issuing a price target of. Piper Jaffray on their part issued Overweight rating on June 29, 2015.

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