Organovo (NASDAQ:ONVO) Earns Sell Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Organovo (NASDAQ:ONVO) in a research note issued to investors on Monday. The firm set a “sell” rating on the medical research company’s stock.

Organovo Stock Performance

ONVO stock opened at $0.54 on Monday. Organovo has a one year low of $0.50 and a one year high of $2.05. The company’s fifty day moving average price is $0.59 and its 200-day moving average price is $0.84. The company has a market capitalization of $7.79 million, a PE ratio of -0.34 and a beta of 0.62.

Hedge Funds Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission. 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.