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

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

Organovo Price Performance

Shares of NASDAQ ONVO opened at $0.35 on Thursday. The firm has a fifty day moving average of $0.40 and a 200 day moving average of $0.47. Organovo has a one year low of $0.32 and a one year high of $1.74.

Organovo (NASDAQ:ONVO) last announced its earnings results on Friday, November 8th. The medical research company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.12. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.04 million. Organovo had a negative net margin of 12,176.70% and a negative return on equity of 249.28%. As a group, equities research analysts forecast that Organovo will post -0.77 earnings per share for the current fiscal year.

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.