StockNews.com Initiates Coverage on Organovo (NASDAQ:ONVO)

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

Organovo Trading Up 1.4 %

ONVO stock opened at $0.43 on Wednesday. The firm has a 50 day moving average of $0.44 and a 200-day moving average of $0.63. The company has a market cap of $6.56 million, a price-to-earnings ratio of -0.40 and a beta of 0.62. Organovo has a 12-month low of $0.32 and a 12-month high of $1.74.

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) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 reporting period. 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.