Organovo (NASDAQ:ONVO) Earns Sell Rating from Analysts at StockNews.com

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

Organovo Price Performance

Shares of ONVO stock opened at $0.40 on Tuesday. The company has a market capitalization of $6.15 million, a PE ratio of -0.35 and a beta of 0.62. The firm’s 50-day moving average is $0.45 and its two-hundred day moving average is $0.64. Organovo has a 12 month low of $0.32 and a 12 month high of $1.74.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.