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

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

Organovo Price Performance

NASDAQ ONVO opened at $0.36 on Monday. Organovo has a one year low of $0.35 and a one year high of $1.74. The firm has a market cap of $5.59 million, a P/E ratio of -0.33 and a beta of 0.62. The stock’s 50-day moving average is $0.47 and its 200-day moving average is $0.67.

Institutional Trading of Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to the company in its most recent 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 approximately 6.46% of Organovo as of its most recent filing with the Securities & Exchange Commission. 8.23% of the stock is currently owned by institutional investors and hedge funds.

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.