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

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

Organovo Stock Up 8.8 %

Shares of NASDAQ ONVO opened at $0.37 on Friday. Organovo has a 12 month low of $0.32 and a 12 month high of $1.74. The company has a market cap of $5.69 million, a price-to-earnings ratio of -0.35 and a beta of 0.53. The business has a fifty day simple moving average of $0.41 and a 200-day simple moving average of $0.53.

Institutional Inflows and Outflows

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 the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 SEC filing. 8.23% of the stock is owned by hedge funds and other institutional investors.

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.