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 Thursday. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Price Performance

Organovo stock opened at $1.15 on Thursday. The firm’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $1.13. Organovo has a fifty-two week low of $0.89 and a fifty-two week high of $2.23.

Organovo (NASDAQ:ONVO) last released its earnings results on Thursday, February 8th. The medical research company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.01. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.08 million. On average, analysts forecast that Organovo will post -1.74 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Organovo by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 353,612 shares of the medical research company’s stock valued at $393,000 after purchasing an additional 73,788 shares in the last quarter. Susquehanna International Group LLP grew its position in Organovo by 20.9% during the first quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock valued at $134,000 after purchasing an additional 10,594 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Organovo by 17.3% during the first quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 19,430 shares in the last quarter. 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.