Organovo Holdings Inc (ONVO) Stock Up 3.4% Following Short Interest Update

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Investors seem to like the recent short interest report issued about Organovo Holdings Inc (NYSEMKT:ONVO) earlier this week, as the stock is moving up in early trading today.

Short interest has dropped 3.2% or by just over 547,000 shares between October 30 and November 13. This brought the total number of shorted shares to approximately 16,746,000, representing about 18% of the total number of outstanding shares of the company.

The stock has been down substantially since peaking at over $12.50 back in late 2013, but has recently seen a bit of a rebound as the company continues to meet most of their goals pertaining to both their liver and kidney tissue samples. The stock is up 3.44% or $0.11 after the positive news, hitting $3.31 per share. About 129,773 shares traded hands. ONVO has declined 36.88% since April 23, 2015 and is downtrending. It has underperformed by 35.87% the S&P500.

The institutional sentiment increased to 2.15 in Q2 2015. Its up 1.13, from 1.02 in 2015Q1. The ratio increased, as 16 funds sold all Organovo Holdings Inc shares owned while 17 reduced positions. 30 funds bought stakes while 41 increased positions. They now own 23.43 million shares or 18.91% more from 19.71 million shares in 2015Q1.

Penbrook Management Llc holds 0.62% of its portfolio in Organovo Holdings Inc for 174,500 shares. Bolton Lp owns 246,800 shares or 0.26% of their US portfolio. Moreover, Messner & Smith Theme Value Investment Management Ltd Ca has 0.19% invested in the company for 36,990 shares. The Virginia-based Strategic Investment Management Llc has invested 0.19% in the stock. Cue Financial Group Inc., a Arizona-based fund reported 36,000 shares.

Since September 23, 2015, the stock had 0 insider buys, and 1 insider sale for $24,193 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 $299.34 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.

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