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

Equities researchers at StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the medical research company’s stock.

Organovo Stock Up 1.1 %

Shares of NASDAQ:ONVO opened at $0.55 on Friday. The business has a 50 day moving average price of $0.60 and a 200 day moving average price of $0.85. The company has a market cap of $7.87 million, a price-to-earnings ratio of -0.34 and a beta of 0.62. Organovo has a twelve month low of $0.50 and a twelve month high of $2.05.

Institutional Investors Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo at the end of the most recent quarter. Institutional investors own 8.23% of the company’s stock.

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.