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

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

Organovo Price Performance

NASDAQ:ONVO opened at $0.45 on Thursday. Organovo has a 12 month low of $0.43 and a 12 month high of $2.05. The firm has a market cap of $6.87 million, a price-to-earnings ratio of -0.32 and a beta of 0.61. The company’s 50 day moving average is $0.53 and its 200-day moving average is $0.77.

Organovo (NASDAQ:ONVO) last announced its earnings results on Monday, August 5th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.15. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.03 million. Research analysts predict that Organovo will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On 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 second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 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.