Wednesday, December 2, 2020

Market cap of Organovo Holdings Inc. [ONVO] reaches 66.27M – now what?

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Organovo Holdings Inc. [NASDAQ: ONVO] price surged by 29.93 percent to reach at $2.49. The company report on September 4, 2020 that Organovo Regains Compliance with Nasdaq Minimum Bid Price Requirement.

Organovo Holdings, Inc. (“Organovo” or the “Company”) (Nasdaq: ONVO) announced today that it has regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market (the “Minimum Bid Price Requirement”). On September 2, 2020, Organovo received a letter from the Listing Qualifications Department of The Nasdaq Stock Market, Inc. stating that because Organovo’s common stock had a closing bid price at or above $1.00 per share for a minimum of ten (10) consecutive business days, Organovo had regained compliance with the Minimum Bid Price Requirement and that Nasdaq had closed the matter.


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About Organovo.

A sum of 1320223 shares traded at recent session while its average daily volume was at 107.38K shares. Organovo Holdings Inc. shares reached a high of $11.39 and dropped to a low of $8.25 until finishing in the latest session at $10.81.

The average equity rating for ONVO stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Organovo Holdings Inc. [ONVO]:

H.C. Wainwright have made an estimate for Organovo Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 13, 2018. The new note on the price target was released on November 10, 2017, representing the official price target for Organovo Holdings Inc. stock.

The Average True Range (ATR) for Organovo Holdings Inc. is set at 1.06, with the Price to Sales ratio for ONVO stock in the period of the last 12 months amounting to 44.18. The Price to Book ratio for the last quarter was 2.84, with the Price to Cash per share for the same quarter was set at 4.05.

ONVO Stock Performance Analysis:

Organovo Holdings Inc. [ONVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.84. With this latest performance, ONVO shares gained by 56.89% in over the last four-week period, additionally plugging by 60.48% over the last 6 months – not to mention a rise of 97.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONVO stock in for the last two-week period is set at 65.09, with the RSI for the last a single of trading hit 67.29, and the three-weeks RSI is set at 58.89 for Organovo Holdings Inc. [ONVO]. The present Moving Average for the last 50 days of trading for this stock 8.50, while it was recorded at 9.37 for the last single week of trading, and 9.21 for the last 200 days.

Insight into Organovo Holdings Inc. Fundamentals:

Organovo Holdings Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 30.50.

ONVO Stock EPS

With the latest financial reports released by the company, Organovo Holdings Inc. posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ONVO.

Organovo Holdings Inc. [ONVO] Insider Position Details

There are presently around $35 million, or 42.00% of ONVO stock, in the hands of institutional investors. The top three institutional holders of ONVO stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 1,356,921, which is approximately 18.442% of the company’s market cap and around 1.90% of the total institutional ownership; NIKKO ASSET MANAGEMENT AMERICAS, INC., holding 489,822 shares of the stock with an approximate value of $5.29 million in ONVO stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $5.29 million in ONVO stock with ownership of nearly -23.512% of the company’s market capitalization.

27 institutional holders increased their position in Organovo Holdings Inc. [NASDAQ:ONVO] by around 275,386 shares. Additionally, 27 investors decreased positions by around 341,334 shares, while 33 investors held positions by with 2,588,505 shares. The mentioned changes placed institutional holdings at 3,205,225 shares, according to the latest SEC report filing. ONVO stock had 10 new institutional investments in for a total of 30,979 shares, while 14 institutional investors sold positions of 15,932 shares during the same period.

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