Organovo (NASDAQ:ONVO) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a report published on Monday morning. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Price Performance

Organovo stock opened at $0.36 on Monday. The company’s 50-day moving average is $0.47 and its 200-day moving average is $0.67. The firm has a market capitalization of $5.59 million, a PE ratio of -0.33 and a beta of 0.62. Organovo has a fifty-two week low of $0.35 and a fifty-two week high of $1.74.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC acquired a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo at the end of the most recent reporting period. 8.23% of the stock is currently owned by institutional investors and hedge funds.

About Organovo

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.