Organovo (NASDAQ:ONVO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVOFree Report) in a report issued on Wednesday morning. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Price Performance

Shares of ONVO stock opened at $0.47 on Wednesday. The stock’s fifty day moving average price is $0.54 and its 200 day moving average price is $0.79. Organovo has a 1-year low of $0.43 and a 1-year high of $2.05. The company has a market cap of $6.70 million, a price-to-earnings ratio of -0.29 and a beta of 0.62.

Organovo (NASDAQ:ONVOGet Free Report) last posted its quarterly earnings data on Monday, August 5th. The medical research company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.15. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.03 million. As a group, equities research analysts anticipate that Organovo will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new stake in Organovo Holdings, Inc. (NASDAQ:ONVOFree Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 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 SEC. 8.23% of the stock is owned by institutional investors and hedge funds.

Organovo Company Profile

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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.

Further Reading

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