Organovo (ONVO) Shares Gap Down to $0.90

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Shares of Organovo Holdings Inc (NASDAQ:ONVO) gapped down before the market opened on Thursday . The stock had previously closed at $1.05, but opened at $0.90. Organovo shares last traded at $0.54, with a volume of 3745740 shares changing hands.

Separately, Zacks Investment Research cut shares of Organovo from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th.

The stock has a market cap of $55.56 million, a PE ratio of -1.45 and a beta of 1.79.

Several hedge funds and other institutional investors have recently made changes to their positions in ONVO. BlackRock Inc. raised its position in shares of Organovo by 1.5% during the 3rd quarter. BlackRock Inc. now owns 7,068,897 shares of the medical research company’s stock valued at $8,129,000 after buying an additional 102,486 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Organovo by 25.4% during the 3rd quarter. Renaissance Technologies LLC now owns 1,561,000 shares of the medical research company’s stock valued at $1,795,000 after buying an additional 316,400 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,771,558 shares of the medical research company’s stock valued at $5,487,000 after buying an additional 52,073 shares in the last quarter. Vanguard Group Inc raised its position in shares of Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 4,771,558 shares of the medical research company’s stock valued at $5,487,000 after buying an additional 52,073 shares in the last quarter. Finally, Albion Financial Group UT purchased a new stake in shares of Organovo during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 42.61% of the company’s stock.

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Organovo Company Profile (NASDAQ:ONVO)

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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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