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

Equities research analysts at StockNews.com started coverage on shares of Organovo (NASDAQ:ONVO) in a research report issued to clients and investors on Tuesday. The firm set a “sell” rating on the medical research company’s stock.

Organovo Stock Performance

Shares of ONVO stock opened at $0.38 on Tuesday. Organovo has a fifty-two week low of $0.32 and a fifty-two week high of $1.74. The firm has a market cap of $5.84 million, a P/E ratio of -0.36 and a beta of 0.62. The business’s 50 day moving average price is $0.46 and its 200-day moving average price is $0.65.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent disclosure with the Securities and 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 at the end of the most recent quarter. 8.23% of the stock is owned by hedge funds and other institutional investors.

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.