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

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

Organovo Stock Performance

ONVO opened at $0.36 on Friday. Organovo has a 1-year low of $0.32 and a 1-year high of $1.74. The company has a 50-day moving average of $0.42 and a 200-day moving average of $0.56. The company has a market capitalization of $5.53 million, a P/E ratio of -0.34 and a beta of 0.53.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 owned by institutional investors and hedge funds.

Organovo Company Profile

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.