Organovo (NASDAQ:ONVO) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Organovo (NASDAQ:ONVO) released its earnings results on Wednesday. The medical research company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02, Zacks reports. Organovo had a negative net margin of 12,176.70% and a negative return on equity of 249.28%.

Organovo Stock Up 0.9 %

Shares of Organovo stock traded up $0.00 during trading on Wednesday, hitting $0.38. The stock had a trading volume of 27,424 shares, compared to its average volume of 158,415. The stock has a 50 day simple moving average of $0.38 and a 200 day simple moving average of $0.45. The company has a market capitalization of $5.91 million, a PE ratio of -0.36 and a beta of 0.54. Organovo has a 1 year low of $0.32 and a 1 year high of $1.74.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Organovo in a research report on Saturday. They issued a “sell” rating on the stock.

About Organovo

Organovo Holdings, Inc, a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. 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.