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

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

Organovo Trading Up 3.1 %

Shares of NASDAQ ONVO opened at $0.44 on Wednesday. Organovo has a 12-month low of $0.32 and a 12-month high of $1.74. The company has a market cap of $6.77 million, a P/E ratio of -0.42 and a beta of 0.62. The stock has a fifty day moving average price of $0.44 and a 200 day moving average price of $0.62.

Institutional Trading of Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC purchased a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent 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 approximately 6.46% of Organovo at the end of the most recent quarter. Institutional investors and hedge funds own 8.23% of the company’s stock.

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.