Organovo Holdings, Inc. (ONVO)

[WHP03]

$4.99 (52 wk high) to $4.15 (today's low) is about 17%. Today's close is right at the 35 day moving average ($4.19). Next technical line is 50 day at $3.89. Purely from a technical standpoint I would like to see it hold here and not continue down to or through the 50 day.

When the selling subsides and MACD and price turn up with volume, I'll be adding shares. I have no doubts about the direction that revenue and enterprise value will move with time. I welcome the opportunity to buy more when the current downward pressure subsides. Patience will pay in the end. IMO 12 months from now $4.15/sh is going to be a price we all wish we had paid for new shares.

The new board members stock options are granted at $4.35 (18,500 shares), vested over 3 yrs. Legally it has to be at the closing price on the day of the grant, but in the end - they don't benefit with the price staying where it is anymore than anyone else does.

I have to say I am impressed with the quality of the board, technical team, and executive team. It doesn't guarantee success, but I've been involved with enough early stage companies over the past two decades to recognize the quality of the ONVO team.