Organovo (NASDAQ:ONVO) Now Covered by StockNews.com

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

Organovo Price Performance

Organovo stock opened at $0.41 on Friday. Organovo has a 12-month low of $0.32 and a 12-month high of $1.74. The stock has a 50-day simple moving average of $0.43 and a 200 day simple moving average of $0.58. The stock has a market capitalization of $6.27 million, a price-to-earnings ratio of -0.38 and a beta of 0.53.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 currently owned by 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.