Bank of New York Mellon Corp Has $898,000 Position in Organovo (ONVO)

Bank of New York Mellon Corp increased its holdings in Organovo (NASDAQ:ONVO) by 57.1% during the 4th quarter, Holdings Channel reports. The firm owned 669,508 shares of the medical research company’s stock after purchasing an additional 243,397 shares during the period. Bank of New York Mellon Corp’s holdings in Organovo were worth $898,000 at the end of the most recent quarter.

Shares of Organovo stock opened at $1.13 on Wednesday. Organovo has a twelve month low of $0.91 and a twelve month high of $3.19. The firm has a market capitalization of $130.79, a P/E ratio of -2.90 and a beta of 2.77.

Organovo (NASDAQ:ONVO) last issued its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. Organovo had a negative net margin of 881.93% and a negative return on equity of 69.03%. The company had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $1.25 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Organovo’s revenue for the quarter was up .0% on a year-over-year basis. analysts forecast that Organovo will post -0.33 EPS for the current year.

Separately, Zacks Investment Research cut shares of Organovo from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.40.

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Organovo Company Profile

Organovo Holdings, Inc, an early commercial stage company, designs and creates functional and three-dimensional (3D) human tissues for use in medical research and therapeutic applications. The company develops 3D human tissue models through internal development and in collaboration with pharmaceutical, academic, and other partners.

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Institutional Ownership by Quarter for Organovo (NASDAQ:ONVO)

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