StockNews.com Initiates Coverage on Organovo (NASDAQ:ONVO)

Equities researchers at StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a report issued on Tuesday. The brokerage set a “sell” rating on the medical research company’s stock.

Organovo Stock Performance

NASDAQ ONVO opened at $0.36 on Tuesday. The business has a fifty day moving average price of $0.41 and a 200 day moving average price of $0.50. The company has a market cap of $5.49 million, a P/E ratio of -0.34 and a beta of 0.56. Organovo has a one year low of $0.32 and a one year high of $1.74.

Hedge Funds Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo at the end of the most recent quarter. Institutional investors own 8.23% of the company’s stock.

Organovo Company Profile

Organovo Holdings, Inc, a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. Its 3D human tissue platform includes its proprietary NovoGen Bioprinters, which are automated devices that enable the fabrication of 3D living tissues comprised mammalian cells; and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture.