Organovo Holdings, Inc. (NASDAQ:ONVO) price on Friday, Jun 04, rose 8.41% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $8.51.
A look at the stock’s price movement, the close in the last trading session was $7.85, moving within a range at $7.89 and $8.75. The beta value (5-Year monthly) was 0.7 while the PE ratio in trailing twelve months stood at 0. Turning to its 52-week performance, $23.92 and $6.02 were the 52-week high and 52-week low respectively. Overall, ONVO moved 12.57% over the past month.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ONVO is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, none recommend ONVO as a Buy and none give it an Outperform rating. Meanwhile, none analyst(s) rate the stock as Underperform and none say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 0, with ONVO’s current price about 14.31% and 1.48% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.41, while 7-day volatility ratio is 1686% and 9.46% in the 30-day chart. Further, Organovo Holdings, Inc. (ONVO) has a beta value of 0.7, and an average true range (ATR) of 0.8. Analysts have given the company’s stock an average 52-week price target of $30, forecast between a low of $30 and high of $30. Looking at the price targets, the low is 252.53% off current price level while to achieve the yearly target high, price needs to move +252.53%. Nonetheless, investors will most likely welcome a +252.53% jump to $30 which is the analysts’ median price.
In the market, a comparison of Organovo Holdings, Inc. (ONVO) and its peers suggest the former has performed considerably weaker. Data shows ONVO’s intraday price has changed +8.41% in last session and -36.49% over the past year. Comparatively, Bristol-Myers Squibb Company (BMY) has moved +0.22% on the day and only +6.65% in the past 12 months. Looking at another peer, we see that Amgen Inc (AMGN) price has surged 0.47% on the day. However, the stock is 7.23% off its price a year ago. Moreover, Gilead Sciences Inc (GILD) is also up 8.41% in trading on the day while keeping a downtrend of -36.49% over the past year. If we look at the PE ratio, we find that Organovo Holdings, Inc.’s ratio stands at 0 compared to Bristol-Myers Squibb Company’s 0 and Amgen Inc’s 19.61. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.88% and 0.52% respectively in the last trading.
If we refocus on Organovo Holdings, Inc. (NASDAQ:ONVO), historical trading data shows that trading volumes averaged 1.52 Million over the past 10 days and 291.75 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 7.12 Million shares.
As per Thomson Reuters, 1.86% of Organovo Holdings, Inc.’s shares are in the hands of company insiders while institutional holders own 29.09% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 466.73 Million on April 14, 2021, giving us a short ratio of 3.23. The data shows that as of April 14, 2021 short interest in Organovo Holdings, Inc. (ONVO) stood at 6.56% of shares outstanding, with shares short rising to 461.62 Million registered in March. Current price change has pushed the stock -30.81% YTD, which shows the risk of further decline is there. It is this reason that could see investor optimism for the ONVO stock might rise going into the next quarter.