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Organovo Holdings (ONVO) Trading With Heavy Volume Before Market Open

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Organovo Holdings ( ONVO) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Organovo Holdings as such a stock due to the following factors:

  • ONVO has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $10.2 million.
  • ONVO traded 154,223 shares today in the pre-market hours as of 8:31 AM, representing 14.1% of its average daily volume.

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More details on ONVO:

Organovo Holdings, Inc., a development-stage company, focuses on developing and commercializing functional human tissues that could be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. Currently there are no analysts that rate Organovo Holdings a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for Organovo Holdings has been 1.5 million shares per day over the past 30 days. Organovo has a market cap of $566.0 million and is part of the health care sector and health services industry. The stock has a beta of -0.78 and a short float of 28.5% with 13.98 days to cover. Shares are down 30.9% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Organovo Holdings as a sell. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself.

Highlights from the ratings report include:

  • Net operating cash flow has significantly decreased to -$5.40 million or 172.86% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • ONVO has underperformed the S&P 500 Index, declining 12.09% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • ONVO, with its very weak revenue results, has greatly underperformed against the industry average of 26.6%. Since the same quarter one year prior, revenues plummeted by 67.0%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • Compared to other companies in the Biotechnology industry and the overall market, ORGANOVO HOLDINGS INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • ONVO's debt-to-equity ratio is very low at 0.00 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 25.44, which clearly demonstrates the ability to cover short-term cash needs.

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