While shares of Organovo Holdings Inc (NYSEMKT:ONVO) have been struggling as of late, partially due to the general biotech slump, today the company made a pretty big announcement. Their subsidiary, Samsara Sciences has officially commenced commerical operations to provision human liver cells for use in research applications.
“The Samsara team shares a passion for cells and is dedicated to providing the high-quality, well-characterized cellular reagents that are required to support the future of biological research and tissue products,” said Dr. Sharon Presnell, President, Samsara Sciences and Chief Technology Officer and Executive Vice President of Research & Development, Organovo. “Our ultimate vision is to supply a comprehensive portfolio of tissue-specific cells that are tailored for use in the production of the multi-cellular 3D tissues that are poised to change the landscape of drug discovery and regenerative medicine.”
This launch will not only help Organovo Holdings Inc (NYSEMKT:ONVO) procure the cells needed for their 3D printing research but also provide the cells to a number of other companies and research organizations for furthering drug discovery and treating liver ailments. The stock is up 0.50% or $0.01 following the news, hitting $2.02 per share. About 27,301 shares traded hands. ONVO has declined 60.51% since June 9, 2015 and is downtrending. It has underperformed the S&P500 by 53.03%.
The institutional sentiment decreased to 1.2 in Q2 2015. It’s down 0.95, from 2.15 in 2015Q2. The ratio dropped, as 18 funds sold all their Organovo Holdings Inc shares they owned while 26 reduced their positions. 13 funds bought stakes while 40 increased their total positions. Institutions now own 16.21 million shares which is 30.82% less than the previous share count of 23.43 million in 2015Q2.
Penbrook Management Llc holds 0.49% of its total portfolio in Organovo Holdings Inc, equating to 173,675 shares. Messner & Smith Theme Value Investment Management Ltd Ca owns 36,990 shares representing 0.2% of their total US portfolio. Moreover, Lehman Financial Resources Inc. has 0.16% of their total portfolio invested in the company, equating to 119,100 shares. The Arizona-based Cue Financial Group Inc. has a total of 0.1% of their portfolio invested in the stock. Bolton Lp, a Connecticut-based fund reported 235,200 shares owned.
Since September 23, 2015, the stock had 0 insider buys, and 1 sale for a total of $24,193 in net activity. Baltera Robert Jr. sold 6,000 shares worth $24,193.
Organovo Holdings, Inc. is a commercial-stage firm focused on developing and commercializing functional human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. The company has a market cap of $186.68 million. The Firm focuses on the generation of three-dimensional human tissues, by utilizing its platform technology to create human tissue constructs in 3D that mimic native human tissue composition, architecture, and function. It currently has negative earnings. The Company’s platform, NovoGen Bioprinters, is focused on multiple 3D bioprinting technologies.