Organovo (NASDAQ:ONVO) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Organovo Holdings, Inc. (NASDAQ:ONVO)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.74 and traded as low as $2.02. Organovo shares last traded at $2.17, with a volume of 66,790 shares changing hands.

Wall Street Analysts Forecast Growth

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

Organovo Price Performance

The company has a fifty day moving average price of $4.70 and a 200 day moving average price of $4.96. The company has a market cap of $3.61 million, a PE ratio of -2.49 and a beta of 1.13.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($2.28) EPS for the quarter, topping analysts’ consensus estimates of ($2.52) by $0.24. The business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. Organovo had a negative net margin of 10,151.64% and a negative return on equity of 346.26%. As a group, sell-side analysts predict that Organovo Holdings, Inc. will post -0.77 EPS for the current fiscal year.

Organovo Company Profile

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.