Organovo Holdings, Inc. (ONVO) Shares Gap Down Following Insider Selling

Organovo Holdings, Inc. (NASDAQ:ONVO)’s share price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $3.13, but opened at $3.19. Organovo Holdings shares last traded at $3.04, with a volume of 2,394,681 shares traded.

Specifically, CEO Keith Murphy sold 25,000 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $3.68, for a total value of $92,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 100,000 shares of company stock worth $365,750 in the last three months. 12.50% of the stock is owned by corporate insiders.

Several analysts have recently issued reports on the company. Raymond James Financial, Inc. assumed coverage on Organovo Holdings in a research report on Wednesday, January 25th. They issued an “outperform” rating and a $5.00 price objective on the stock. Zacks Investment Research upgraded Organovo Holdings from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research report on Wednesday, November 9th. Evercore ISI assumed coverage on Organovo Holdings in a research report on Monday, November 28th. They issued a “buy” rating and a $4.50 price objective on the stock. Finally, BTIG Research assumed coverage on Organovo Holdings in a research report on Thursday, December 15th. They issued a “buy” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $6.45.

The firm has a 50-day moving average of $3.64 and a 200-day moving average of $3.66.

Organovo Holdings (NASDAQ:ONVO) last posted its quarterly earnings data on Thursday, February 9th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.40 million. Organovo Holdings had a negative return on equity of 60.17% and a negative net margin of 911.80%. The firm’s revenue was up 248.5% compared to the same quarter last year. On average, equities research analysts forecast that Organovo Holdings, Inc. will post ($0.39) earnings per share for the current year.

A number of institutional investors have recently modified their holdings of ONVO. Bessemer Group Inc. purchased a new position in shares of Organovo Holdings during the fourth quarter valued at about $102,000. Private Advisor Group LLC raised its position in shares of Organovo Holdings by 79.1% in the fourth quarter. Private Advisor Group LLC now owns 32,144 shares of the company’s stock valued at $118,000 after buying an additional 14,194 shares in the last quarter. Sigma Planning Corp raised its position in shares of Organovo Holdings by 60.8% in the third quarter. Sigma Planning Corp now owns 35,690 shares of the company’s stock valued at $135,000 after buying an additional 13,500 shares in the last quarter. Quantitative Investment Management LLC raised its position in shares of Organovo Holdings by 142.4% in the third quarter. Quantitative Investment Management LLC now owns 41,700 shares of the company’s stock valued at $158,000 after buying an additional 24,500 shares in the last quarter. Finally, Cue Financial Group Inc. raised its position in shares of Organovo Holdings by 4.8% in the third quarter. Cue Financial Group Inc. now owns 44,000 shares of the company’s stock valued at $167,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 19.07% of the company’s stock.

This news story was originally published by sleekmoney and is the property of of sleekmoney. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this news story can be viewed at http://sleekmoney.com/organovo-holdings-inc-onvo-shares-gap-down-following-insider-selling/1658512.html.

Organovo Holdings Company Profile

5 Day Chart for NASDAQ:ONVO

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/organovo-holdings-inc-onvo-shares-gap-down-following-insider-selling/1658512.html

Receive News & Ratings for Organovo Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organovo Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *