Organovo (NASDAQ:ONVO) Research Coverage Started at StockNews.com

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

Organovo Stock Performance

NASDAQ:ONVO opened at $0.42 on Friday. The company has a market cap of $6.45 million, a price-to-earnings ratio of -0.30 and a beta of 0.62. The stock’s fifty day moving average price is $0.49 and its two-hundred day moving average price is $0.69. Organovo has a 52-week low of $0.40 and a 52-week high of $2.05.

Organovo (NASDAQ:ONVO) last issued its quarterly earnings results on Monday, August 5th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.15. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.03 million. On average, equities analysts predict that Organovo will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC acquired a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.