Organovo (NASDAQ:ONVO) Receives New Coverage from Analysts at StockNews.com

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

Organovo Trading Up 2.5 %

Shares of ONVO opened at $0.47 on Friday. The company has a market cap of $7.22 million, a price-to-earnings ratio of -0.34 and a beta of 0.61. The business’s fifty day simple moving average is $0.52 and its two-hundred day simple moving average is $0.75. Organovo has a 12 month low of $0.43 and a 12 month high of $2.05.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings results on Monday, August 5th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.15. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.03 million. As a group, research analysts forecast that Organovo will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 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.

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.