Organovo (NASDAQ:ONVO) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Organovo (NASDAQ:ONVO) in a research report sent to investors on Monday. The firm issued a sell rating on the medical research company’s stock.

Organovo Stock Down 4.1 %

Shares of NASDAQ ONVO opened at $0.52 on Monday. Organovo has a 52 week low of $0.50 and a 52 week high of $2.05. The business has a 50-day simple moving average of $0.58 and a two-hundred day simple moving average of $0.84. The company has a market cap of $7.47 million, a P/E ratio of -0.32 and a beta of 0.62.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo as of its most recent SEC filing. Institutional investors and hedge funds 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.