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

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

Organovo Price Performance

Shares of ONVO opened at $0.44 on Wednesday. The company has a market capitalization of $6.77 million, a P/E ratio of -0.42 and a beta of 0.62. Organovo has a one year low of $0.32 and a one year high of $1.74. The business’s 50 day simple moving average is $0.44 and its 200-day simple moving average is $0.62.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo at the end of the most recent reporting period. Institutional investors and hedge funds own 8.23% of the company’s stock.

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.