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

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

Organovo Stock Down 6.2 %

Organovo stock opened at $0.44 on Friday. The company’s 50-day moving average price is $0.51 and its two-hundred day moving average price is $0.73. The stock has a market cap of $6.35 million, a P/E ratio of -0.27 and a beta of 0.61. Organovo has a twelve month low of $0.43 and a twelve month high of $2.05.

Organovo (NASDAQ:ONVO) last posted its quarterly earnings data on Monday, August 5th. The medical research company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.15. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.03 million. Equities analysts anticipate that Organovo will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo as of its most recent SEC filing. Hedge funds and other institutional investors own 8.23% of the company’s stock.

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.